UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, DC 20549

FORM N-Q

QUARTERLY SCHEDULE OF PORTFOLIO HOLDINGS OF REGISTERED
MANAGEMENT INVESTMENT COMPANY

Investment Company Act file number File No. 811-04415

	COLLEGE RETIREMENT EQUITIES FUND
(Exact name of Registrant as specified in charter)

	730 Third Avenue, New York, New York 10017-3206
(Address of Principal Executive Offices) (Zip code)

	Stewart P. Greene, Esq.
	c/o TIAA-CREF
	730 Third Avenue
	New York, New York 10017-3206
(Name and address of agent for service)
Registrant’s telephone number, including area code: 212-490-9000
Date of fiscal year end: December 31
Date of reporting period: September 30, 2012

Item 1. Schedule of Investments.

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

COLLEGE RETIREMENT EQUITIES FUND

STOCK ACCOUNT

SCHEDULE OF INVESTMENTS (unaudited)

September 30, 2012

PRINCIPAL			ISSUER	RATE		MATURITY DATE	VALUE (000)
BONDS - 0.0%
CORPORATE BONDS - 0.0%
CAPITAL GOODS - 0.0%
$	826,993	j,m	PDG Realty S.A. Empreendimentos e Participacoes	0.000	%	09/19/16	$	286
			TOTAL CAPITAL GOODS					286
DIVERSIFIED FINANCIALS - 0.0%
	2,588,000		Credit Suisse Group Guernsey V Ltd	4.000		03/29/13		3,393
			TOTAL DIVERSIFIED FINANCIALS					3,393
FOOD & STAPLES RETAILING - 0.0%
	800	i	Marfrig Alimentos S.A.	1.000		07/15/15		40
			TOTAL FOOD & STAPLES RETAILING					40
REAL ESTATE - 0.0%
	22,352		Kiwi Income Property Trust	8.950		12/20/14		20
			TOTAL REAL ESTATE					20
			TOTAL CORPORATE BONDS					3,739
			(Cost $2,898)
GOVERNMENT BONDS 0.0%
U.S. TREASURY SECURITIES - 0.0%
	300,000		United States Treasury Note	1.750		05/15/22		304
			TOTAL U.S. TREASURY SECURITIES					304
			TOTAL GOVERNMENT BONDS					304
			(Cost $304)
			TOTAL BONDS					4,043
			(Cost $3,202)
EQUITY-LINKED NOTES - 0.0%
BANKS - 0.0%
	14,899,365	*,m	Deutsche Bank, First Bank of Nigeria plc	0.000		04/04/18		1,341
			TOTAL BANKS					1,341
DIVERSIFIED FINANCIALS - 0.0%
	221,577	*	Deutsche Bank, John Keells	0.000		07/05/19		392
			TOTAL DIVERSIFIED FINANCIALS					392
			TOTAL EQUITY-LINKED NOTES					1,733
			(Cost $1,450)

1

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
COMMON STOCKS - 99.4%
AUTOMOBILES & COMPONENTS - 1.6%
	104,085		Actron Technology Corp	$	257
	34,200		Aisan Industry Co Ltd		271
	594,422	*,e	Aisin Seiki Co Ltd		16,929
	103,500	e	Akebono Brake Industry Co Ltd		459
	63,778	e	Allison Transmission Holdings, Inc		1,283
	1,190,016	*,e	American Axle & Manufacturing Holdings, Inc		13,411
	211,675		Amtek Auto Ltd		355
	359,768		Amtek India Ltd		658
	44,900		APM Automotive Holdings BHD		73
	11,259	*	Asahi India Glass Ltd		15
	21,161		AtlasBX Co Ltd		649
	252,625	e	Autoliv, Inc		15,655
	187,052	*,e	Autoliv, Inc (ADR)		11,551
	71,600		Autometal S.A.		671
	5,249	*	Autoneum Holding AG.		264
	144,703		Bajaj Holdings and Investment Ltd		5,016
	279,193		Bayerische Motoren Werke AG.		20,473
	460		Bayerische Motoren Werke AG. (Preference)		24
	87,562		Bharat Forge Ltd		507
	1,178,862	*	BorgWarner, Inc		81,470
	43,807		Brembo S.p.A.		443
	1,017,738		Bridgestone Corp		23,604
	6,938,200	*,e	Brilliance China Automotive Holdings Ltd		7,603
	724,900	*,e	Byd Co Ltd		1,258
	562,000	e	Calsonic Kansei Corp		2,165
	1,665,000	e	Chaowei Power Holdings Ltd		909
	2,551,904		Cheng Shin Rubber Industry Co Ltd		6,682
	2,106,000		China Motor Corp		2,023
	37,756		Cie Automotive Sa		263
	65,607		Compagnie Plastic-Omnium S.A.		1,633
	176,573		Continental AG.		17,317
	317,082		Cooper Tire & Rubber Co		6,082
	94,880		Dae Won Kang Up Co Ltd		579
	36,000	e	Daido Metal Co Ltd		265
	736,653	*,e	Daihatsu Motor Co Ltd		12,274
	820,448		Daimler AG. (Reg)		39,821
	616,542		Dana Holding Corp		7,583
	1,665,177	*	Delphi Automotive plc		51,620
	815,778		Denso Corp		25,632
	203,000		Depo Auto Parts Ind Co Ltd		445

2

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	9,600		Dong Ah Tire & Rubber Co Ltd	$	135
	3,880,500		Dongfeng Motor Group Co Ltd		4,509
	17,800		Dongyang Mechatronics Corp		202
	87,734	*,e	Dorman Products, Inc		2,764
	308,900		Double Coin Holdings Ltd		161
	2,274,800		Drb-Hicom BHD		1,729
	68,676	e	Drew Industries, Inc		2,075
	31,000	*	Eagle Industry Co Ltd		197
	46,757	e	ElringKlinger AG.		1,240
	38,882		Exedy Corp		772
	352,958		Exide Industries Ltd		1,024
	327,977	*	Exide Technologies		1,017
	77,285	e	Faurecia		1,278
	39,200		FCC Co Ltd		630
	844,710		Federal Corp		653
	84,949	*	Federal Mogul Corp (Class A)		777
	312,650		Fiat S.p.A.		1,672
	146,720	e	Fleetwood Corp Ltd		1,540
	17,307,442		Ford Motor Co		170,651
	151,608		Ford Otomotiv Sanayi AS		1,569
	56,812	*,e	Fuel Systems Solutions, Inc		977
	784,452		Fuji Heavy Industries Ltd		6,536
	67,797	*,e	Futaba Industrial Co Ltd		274
	5,570,000	e	Geely Automobile Holdings Ltd		2,098
	1,643,479	*	General Motors Co		37,389
	85,268,000	*,e	General Motors Co		0	^
	7,950,000	*	General Motors Co		0	^
	18,507,434	*	General Motors Co		0	^
	35,983,677	*	General Motors Co		0	^
	40,684,487	*	General Motors Co		0	^
	4,230,271	*,e	General Motors Co		0	^
	6,062,000	*	General Motors Co		0	^
	26,439,191	*	General Motors Co		0	^
	722,689	*,e	General Motors Co		0	^
	24,057,000	*	General Motors Co		0	^
	205,515	e	Gentex Corp		3,496
	107,525	*	Gentherm, Inc		1,338
	4,809,353		GKN plc		16,722
	26,240		Global & Yuasa Battery Co Ltd		1,151
	1,037		Goodyear Lastikleri Turk AS.		33
	638,978	*	Goodyear Tire & Rubber Co		7,789
	27,795		Grammer AG.		550
	2,074,000	e	Great Wall Motor Co Ltd		5,441
	3,396,766		Guangzhou Automobile Group Co Ltd		2,222
	106,580		Halla Climate Control Corp		2,197
	59,950		Hanil E-Wha Co Ltd		523
	114,420		Hankook Tire Co Ltd		4,283
	403,052		Harley-Davidson, Inc		17,077
	86,440		Hero Honda Motors Ltd		3,078
	2,325,197		Honda Motor Co Ltd		71,861
	73,884		Hu Lane Associate, Inc		127
	17,797		Hudaco Industries Ltd		239

3

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	21,260		Hwa Shin Co Ltd	$	190
	118,822		Hyundai Mobis		33,033
	309,596		Hyundai Motor Co		69,832
	58,033		Hyundai Motor Co Ltd (2nd Preference)		4,034
	35,000		Hyundai Motor Co Ltd (Preference)		2,260
	38,463		Hyundai Wia Corp		6,455
	417,800		IMMSI S.p.A.		211
	2,240,586		Isuzu Motors Ltd		10,797
	289,500	*,m	Jinan Qingqi Motorcycle Co		64
	1,166,969		Johnson Controls, Inc		31,975
	331,896	e	Kayaba Industry Co Ltd		1,179
	191,700	e	Keihin Corp		2,266
	1,504,811		Kenda Rubber Industrial Co Ltd		1,872
	583,267		Kia Motors Corp		36,240
	58,000	e	Kinugawa Rubber Industrial Co Ltd		305
	78,196	*	Koito Manufacturing Co Ltd		903
	44,510		Kolao Holdings		691
	72,810	*	Kumho Tire Co, Inc		983
	62,290	e	Landi Renzo S.p.A.		116
	606,790		Lear Corp		22,931
	85,606		Leoni AG.		3,205
	89,698		Linamar Corp		1,931
	431,577	e	Magna International, Inc (Class A)		18,662
	572,517		Mahindra & Mahindra Ltd		9,363
	17,550		Mando Corp		2,420
	145,382	*	Martinrea International, Inc		1,044
	67,923		Maruti Udyog Ltd		1,737
	3,761,142	*	Mazda Motor Corp		4,390
	63,240		Metair Investments Ltd		212
	688,281		Michelin (C.G.D.E.) (Class B)		53,894
	1,188,000		Minth Group Ltd		1,248
	47,000		Mitsuba Corp		313
	1,921,376	*,e	Mitsubishi Motors Corp		1,772
	187,968	*,e	Modine Manufacturing Co		1,387
	58,860		Motonic Corp		587
	6,168		MRF Ltd		1,200
	27,000	e	Musashi Seimitsu Industry Co Ltd		496
	627,643		Nan Kang Rubber Tire Co Ltd		873
	2,037		Nexen Corp		141
	41,427		Nexen Tire Corp		723
	165,613		NGK Spark Plug Co Ltd		1,742
	173,596	*	NHK Spring Co Ltd		1,492
	11,800	e	Nidec-Tosok Corp		95
	105,851	e	Nifco, Inc		2,440
	78,000		Nippon Seiki Co Ltd		781
	4,368,904	e	Nissan Motor Co Ltd		37,182
	94,941		Nissan Shatai Co Ltd		1,063
	47,400	e	Nissin Kogyo Co Ltd		619
	135,626	*,e	NOK Corp		2,174
	37,076	e	Nokian Renkaat Oyj		1,513
	848,000	*,m	Norstar Founders Group Ltd		0	^
	24,910		Otokar Otobus Karoseri Sanayi AS		558

4

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	41,000	*	Pacific Industrial Co Ltd	$	229
	64,845	e	Peugeot S.A.		512
	180,127		Piaggio & C S.p.A.		410
	428,938	e	Pirelli & C S.p.A.		4,629
	183,300		Plascar Participacoes Industriais S.A.		94
	161,032		Porsche AG.		9,650
	539,410	e	Press Kogyo Co Ltd		2,158
	30,691,100		PT Astra International Tbk		23,656
	2,810,500		PT Gajah Tunggal Tbk		665
	1,724,250		PT Multistrada Arah Sarana Tbk		72
	348,000		PT Selamat Sempurna Tbk		91
	59,763		Pyeong Hwa Automotive Co Ltd		927
	8,342,000	e	Qingling Motors Co Ltd		1,853
	1,293,710		Renault S.A.		60,618
	116,000		Riken Corp		427
	15,340		S&T Daewoo Co Ltd		283
	75,040		S&T Dynamics Co Ltd		870
	52,563	*	SAF-Holland S.A.		319
	162,900	e	Sanden Corp		490
	27,700		Sanoh Industrial Co Ltd		180
	1,463,920		Sanyang Industry Co Ltd		1,005
	24,810		Sejong Industrial Co Ltd		330
	22,556	e	Shiloh Industries, Inc		253
	229,100	*,e	Showa Corp		2,019
	55,230		SL Corp		801
	7,139		Societe Fonciere Financiere et de Participations FFP		273
	59,256		Sogefi S.p.A.		151
	475,700		Somboon Advance Technology PCL		443
	129,557		Spartan Motors, Inc		648
	1,336,100		Sri Trang Agro-Industry PCL		671
	48,450	*	Ssangyong Motor Co		224
	120,789	e	Standard Motor Products, Inc		2,225
	196,695		Stanley Electric Co Ltd		2,912
	99,389	*	Stoneridge, Inc		494
	574,903		Sumitomo Rubber Industries, Inc		6,837
	9,500		Sundram Fasteners Ltd		8
	26,745		Sungwoo Hitech Co Ltd		343
	116,443	e	Superior Industries International, Inc		1,990
	230,153		Suzuki Motor Corp		4,470
	2,289,653		T RAD Co Ltd		5,042
	56,000		Ta Yih Industrial Co Ltd		97
	24,000		Tachi-S Co Ltd		407
	15,400	*	Taiho Kogyo Co Ltd		153
	42,100	*,e	Takata Corp		756
	210,400		TAN Chong Motor Holdings BHD		321
	2,119,913		Tata Motors Ltd		10,800
	22,200		Teikoku Piston Ring Co Ltd		259
	307,767	*	Tenneco, Inc		8,617
	1,564,065	*,e	Tesla Motors, Inc		45,796
	54,401		Thor Industries, Inc		1,976
	2,050,000	e	Tianneng Power International Ltd		1,241
	207,663	e	Tokai Rika Co Ltd		2,914

5

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	50,500		Tokai Rubber Industries, Inc	$	482
	788,975		Tong Yang Industry Co Ltd		775
	80,500		Topre Corp		680
	27,273	*	Tower International, Inc		210
	441,000		Toyo Tire & Rubber Co Ltd		1,107
	167,670	e	Toyoda Gosei Co Ltd		3,358
	80,963	*,e	Toyota Boshoku Corp		840
	149,793		Toyota Industries Corp		4,193
	6,258,437	*	Toyota Motor Corp		245,389
	465,875	*	TRW Automotive Holdings Corp		20,363
	106,300		TS Tech Co Ltd		1,708
	14,700		Tube Investments Of India		48
	143,601		Tung Thih Electronic Co Ltd		346
	482,066		TVS Motor Co Ltd		386
	346,433		TYC Brother Industrial Co Ltd		143
	1,747,982		UMW Holdings BHD		5,709
	40,200		Unipres Corp		890
	151,603		Valeo S.A.		7,008
	62,300	*	Visteon Corp		2,770
	195,333		Volkswagen AG.		32,742
	193,260		Volkswagen AG. (Preference)		35,337
	124,871	*,e	Winnebago Industries, Inc		1,577
	2,230,785	e	Xinyi Glass Holdings Co Ltd		1,031
	299,172	e	Yamaha Motor Co Ltd		2,611
	347,000		Yokohama Rubber Co Ltd		2,564
	247,300		Yorozu Corp		3,860
	1,113,258		Yulon Motor Co Ltd		2,231
			TOTAL AUTOMOBILES & COMPONENTS		1,730,749
BANKS - 6.1%
	78,923	e	1st Source Corp		1,758
	105,897	*,e	1st United Bancorp, Inc		683
	1,353,030		77 Bank Ltd		5,609
	61,517	*	Aareal Bank AG.		1,264
	394,697		ABSA Group Ltd		6,585
	27,382	e	Access National Corp		374
	843,800		Affin Holdings BHD		928
	33,442,000	e	Agricultural Bank of China		12,939
	16,300	e	Aichi Bank Ltd		943
	2,455,199		Akbank TAS		9,703
	821,285		Albaraka Turk Katilim Bankasi AS		623
	22,185	e	Alliance Financial Corp		892
	1,281,000		Alliance Financial Group BHD		1,712
	672,380	*	Alpha Bank S.A.		1,432
	315,270	*,m	Amagerbanken AS		0	^
	28,900	e	American National Bankshares, Inc		653
	118,558	*,e	Ameris Bancorp		1,493
	36,973	e	Ames National Corp		771
	152,554		Andhra Bank		325
	541,290	*,m	Anglo Irish Bank Corp plc		0	^
	323,000		Aomori Bank Ltd		1,018
	10,931,884		Aozora Bank Ltd		33,430

6

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	159,469		Apollo Residential Mortgage	$	3,515
	48,382	e	Arrow Financial Corp		1,210
	211,260		Associated Banc-Corp		2,782
	314,747	e	Astoria Financial Corp		3,110
	548,061	*	Asya Katilim Bankasi AS		604
	66,448		Attijariwafa Bank		2,494
	4,335,143		Australia & New Zealand Banking Group Ltd		110,787
	431,721	e	Awa Bank Ltd		2,785
	2,636,261	e	Banca Carige S.p.A.		2,552
	12,033,378		Banca Intesa S.p.A.		18,349
	3,972,541		Banca Intesa S.p.A. RSP		5,153
	4,345,524	e	Banca Monte dei Paschi di Siena S.p.A.		1,262
	617,917		Banca Popolare dell’Emilia Romagna Scrl		3,339
	9,144,560		Banca Popolare di Milano		4,806
	429,796		Banca Popolare di Sondrio SCARL		2,540
	41,199	e	Bancfirst Corp		1,770
	149,683		Banche Popolari Unite Scpa		555
	133,611		Banco ABC Brasil S.A.		797
	4,845,929	e	Banco Bilbao Vizcaya Argentaria S.A.		38,127
	593,076	*	Banco BPI S.A.		578
	3,412,846		Banco Bradesco S.A. (Preference)		54,831
	5,251,395	*,e	Banco Comercial Portugues S.A.		432
	59,788		Banco Davivienda S.A.		721
	81,800		Banco Daycoval S.A.		440
	23,663,935		Banco de Chile		3,308
	62,924		Banco de Credito e Inversiones		3,969
	3,016,575		Banco de Oro Universal Bank		4,685
	437,694	e	Banco de Sabadell S.A.		1,176
	1,353,622		Banco do Brasil S.A.		16,559
	362,381		Banco do Estado do Rio Grande do Sul		3,082
	340,773		Banco Espirito Santo S.A.		247
	157,300		Banco Industrial e Comercial S.A.		552
	4,382,800	*	Banco Itau Holding Financeira S.A.		66,134
	109,437	e	Banco Latinoamericano de Exportaciones S.A. (Class E)		2,417
	53,700		Banco Panamericano S.A.		135
	48,639		Banco Pine S.A.		353
	17,561	*	Banco Pine S.A. (ADR)		127
	307,828		Banco Popolare Scarl		461
	3,511,260	e	Banco Popular Espanol S.A.		7,687
	1,164,744		Banco Santander Brasil S.A.		8,515
	10,677,357		Banco Santander Central Hispano S.A.		79,700
	87,589,015		Banco Santander Chile S.A.		6,195
	429,074		BanColombia S.A.		6,294
	56,000	e	BanColombia S.A. (ADR)		3,344
	242,975		BanColombia S.A. (Preference)		3,599
	453,671	e	Bancorpsouth, Inc		6,687
	72,500		Bangkok Bank PCL		456
	262,400		Bangkok Bank PCL (ADR)		1,650
	1,770,700		Bangkok Bank PCL (Foreign)		11,533
	25,210		Bank Handlowy w Warszawie S.A.		693
	203,261		Bank Hapoalim Ltd		725
	623,764		Bank Leumi Le-Israel		1,748

7

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	235,638		Bank Millennium S.A.	$	285
	184,798	e	Bank Mutual Corp		841
	2,022,900		Bank of Ayudhya PCL		2,062
	91,966		Bank of Baroda		1,389
	145,380,000		Bank of China Ltd		55,031
	20,955,372	e	Bank of Communications Co Ltd		14,135
	4,572,364		Bank of Cyprus Public Co Ltd		1,357
	1,172,624	e	Bank of East Asia Ltd		4,375
	54,502		Bank of Hawaii Corp		2,486
	144,720		Bank of India		852
	37,816,800	*	Bank of Ireland		4,689
	29,200		Bank of Iwate Ltd		1,401
	895,183		Bank of Kaohsiung		281
	23,933	e	Bank of Kentucky Financial Corp		664
	523,125	e	Bank of Kyoto Ltd		4,426
	27,704	e	Bank of Marin Bancorp		1,178
	3,090		Bank of Montreal		182
	978,838	e	Bank of Montreal (Toronto)		57,848
	345,000		Bank of Nagoya Ltd		1,210
	1,940,414	e	Bank of Nova Scotia		106,426
	28,300		Bank of Okinawa Ltd		1,247
	398,855	*	Bank of Queensland Ltd		3,124
	184,541		Bank of Saga Ltd		448
	105,704		Bank of the Ozarks, Inc		3,644
	1,617,091		Bank of the Philippine Islands		3,087
	92,600	e	Bank of the Ryukyus Ltd		1,205
	1,247,763		Bank of Yokohama Ltd		5,933
	191,094		Bank Pekao S.A.		9,427
	15,901,500		Bank Rakyat Indonesia		12,325
	95,506	e	BankFinancial Corp		839
	613,655	*,e	Bankia SAU		1,027
	806,667	e	Bankinter S.A.		3,505
	20,987		BankUnited		516
	80,134		Banner Corp		2,172
	4,321		Banque Cantonale Vaudoise		2,240
	13,532	e	Bar Harbor Bankshares		484
	45,191,872		Barclays plc		156,933
	2,002,799		BB&T Corp		66,413
	283,553	*,e	BBCN Bancorp, Inc		3,576
	250,805		Bendigo Bank Ltd		1,993
	131,179	*,e	Beneficial Mutual Bancorp, Inc		1,254
	10,811	*,e	Berkshire Bancorp, Inc		89
	79,072	e	Berkshire Hills Bancorp, Inc		1,809
	160,800		BIMB Holdings Bhd		159
	2,799,937		BNP Paribas		132,748
	6,313,037		BOC Hong Kong Holdings Ltd		19,966
	31,101	*	BofI Holding, Inc		810
	30,775		BOK Financial Corp		1,819
	276,916		Boston Private Financial Holdings, Inc		2,656
	15,244	*	BRE Bank S.A.		1,505
	33,671	e	Bridge Bancorp, Inc		785
	36,637	*,e	Bridge Capital Holdings		566

8

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	428,447	e	Brookline Bancorp, Inc	$	3,779
	42,748		Bryn Mawr Bank Corp		959
	243,067		BS Financial Group		2,611
	29,823	*,e	BSB Bancorp, Inc		385
	6,577,496		Bumiputra-Commerce Holdings BHD		16,110
	9,631		C&F Financial Corp		379
	30,715		Camden National Corp		1,138
	819,027	e	Canadian Imperial Bank of Commerce/Canada		64,108
	132,676	e	Canadian Western Bank		4,043
	125,430		Canara Bank		1,025
	46,754	*,e	Cape Bancorp, Inc		438
	7,095	*	Capital Bank Financial Corp		128
	72,921	e	Capital City Bank Group, Inc		776
	531,856		CapitalSource, Inc		4,031
	61,270	e	Capitec Bank Holdings Ltd		1,650
	193,104		Capitol Federal Financial		2,310
	149,498	e	Cardinal Financial Corp		2,138
	14,093	*,e	Cascade Bancorp		74
	286,099		Cathay General Bancorp		4,938
	51,554	e	Center Bancorp, Inc		615
	119,945		Centerstate Banks of Florida, Inc		1,070
	200,000		Central Bank Of India		296
	117,263	*,e	Central Pacific Financial Corp		1,677
	17,869	e	Century Bancorp, Inc		570
	6,011,142		Chang Hwa Commercial Bank		3,242
	14,590	e	Charter Financial Corp		142
	140,068		Chemical Financial Corp		3,390
	943,189		Chiba Bank Ltd		5,483
	48,800	*	Chiba Kogyo Bank Ltd		265
	24,601,000		China Citic Bank		11,600
	133,056,631		China Construction Bank		91,768
	20,755,870		China Development Financial Holding Corp		5,113
	9,083,122	e	China Merchants Bank Co Ltd		15,183
	15,757,800	e	China Minsheng Banking Corp Ltd		12,368
	17,677,195		Chinatrust Financial Holding Co		10,620
	11,396,000	e	Chongqing Rural Commercial Bank		4,472
	80,734		Chugoku Bank Ltd		1,137
	653,955	*,e	CIT Group, Inc		25,759
	59,050	e	Citizens & Northern Corp		1,158
	147,463	*	Citizens Republic Bancorp, Inc		2,853
	75,754	e	City Holding Co		2,715
	55,029		City National Corp		2,835
	44,129	e	Clifton Savings Bancorp, Inc		485
	47,897	e	CNB Financial Corp		839
	121,597		CoBiz, Inc		851
	236,597		Columbia Banking System, Inc		4,387
	83,088		Comdirect Bank AG.		829
	424,916		Comerica, Inc		13,194
	89,115		Commerce Bancshares, Inc		3,594
	936,630		Commercial International Bank		5,376
	1,109,090	*	Commerzbank AG.		1,984
	1,567,651		Commonwealth Bank of Australia		90,262

9

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	177,804		Community Bank System, Inc	$	5,012
	48,823	e	Community Trust Bancorp, Inc		1,735
	12,993		Corp Bank		103
	125,684,949		CorpBanca S.A.		1,516
	654,000	*	Cosmos Bank Taiwan		193
	138,540	e	Credicorp Ltd (NY)		17,356
	32,543	e	Credit Agricole Nord de France		526
	630,822		Credit Agricole S.A.		4,339
	205,890		Credito Emiliano S.p.A.		956
	5,725	*	Crescent Financial Bancshares, Inc		26
	615,526	e	Criteria Caixacorp S.A.		2,318
	62,999		Cullen/Frost Bankers, Inc		3,618
	367,342	e	CVB Financial Corp		4,386
	838,839		Dah Sing Banking Group Ltd		780
	337,456		Dah Sing Financial Holdings Ltd		1,161
	689,879		Daishi Bank Ltd		2,247
	126,411	*	Danske Bank AS		2,278
	1,599,803		DBS Group Holdings Ltd		18,686
	59,216		Dena Bank		119
	722,608	*	Development Credit Bank Ltd		601
	38,445		Dewan Housing Finance Corp Ltd		146
	774,553	*,e	Dexia		219
	189,310		DGB Financial Group Co Ltd		2,491
	2,090,892		Dhanalakshmi Bank Ltd		2,197
	146,725	e	Dime Community Bancshares		2,119
	8,862,920		DNB NOR Holding ASA		108,570
	474,505	*	Doral Financial Corp		446
	5,306,022		E.Sun Financial Holding Co Ltd		2,993
	75,291	*,e	Eagle Bancorp, Inc		1,259
	1,467,165	e	East West Bancorp, Inc		30,987
	439,501	*	EFG Eurobank Ergasias S.A.		594
	246,000		Eighteenth Bank Ltd		652
	23,957	e	Enterprise Bancorp, Inc		409
	82,601	e	Enterprise Financial Services Corp		1,123
	366,792	*	Erste Bank der Oesterreichischen Sparkassen AG.		8,198
	51,700	e	ESB Financial Corp		722
	52,551	e	ESSA Bancorp, Inc		546
	74,280		EverBank Financial Corp		1,023
	2,648,390		Far Eastern International Bank		1,044
	67,946	e	Farmers National Banc Corp		439
	34,747	e	Federal Agricultural Mortgage Corp (Class C)		894
	165,561		Federal Bank Ltd		1,401
	9,316	*	FIBI Holdings Ltd		127
	31,991	e	Fidelity Southern Corp		303
	5,951,042		Fifth Third Bancorp		92,301
	70,566	e	Financial Institutions, Inc		1,315
	87,730	e	First Bancorp (NC)		1,012
	283,047	*,e	First Bancorp (Puerto Rico)		1,251
	37,558	e	First Bancorp, Inc		659
	414,590	e	First Busey Corp		2,023
	78,933	*,e	First California Financial Group, Inc		549
	6,093		First Citizens Bancshares, Inc (Class A)		993

10

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	390,835	e	First Commonwealth Financial Corp	$	2,755
	57,772	e	First Community Bancshares, Inc		882
	83,937	e	First Connecticut Bancorp		1,134
	45,707	e	First Defiance Financial Corp		789
	9,104	*,e	First Federal Bancshares of Arkansas, Inc		89
	341,876		First Financial Bancorp		5,781
	158,155	e	First Financial Bankshares, Inc		5,698
	50,464		First Financial Corp		1,582
	15,078,491		First Financial Holding Co Ltd		9,296
	96,215		First Financial Holdings, Inc		1,250
	60,466	*,e	First Financial Northwest, Inc		487
	699,358		First Horizon National Corp		6,735
	27,776	*	First International Bank Of Israel Ltd		327
	80,371		First Interstate Bancsystem, Inc		1,202
	98,870		First Merchants Corp		1,484
	355,319	e	First Midwest Bancorp, Inc		4,459
	417,442		First Niagara Financial Group, Inc		3,377
	28,493		First of Long Island Corp		878
	39,534	e	First Pactrust Bancorp, Inc		495
	205,196		First Republic Bank		7,071
	499,386	e	FirstMerit Corp		7,356
	109,046	e	Flushing Financial Corp		1,723
	518,667		FNB Corp		5,814
	36,585	*,e	FNB United Corp		435
	54,389		Fox Chase Bancorp, Inc		850
	53,158	*,e	Franklin Financial Corp		907
	754,350		Fukuoka Financial Group, Inc		3,063
	236,837		Fulton Financial Corp		2,335
	56,240	e	Genworth MI Canada, Inc		1,193
	59,776	e	German American Bancorp, Inc		1,442
	1,320,723	*	Get Bank S.A.		707
	68,173	*	Get Bank S.A.-PDA-ALLT-J		36
	33,154	*	Get Bank S.A.-PDA-ALLT-K		18
	278,358	*	Getin Holding S.A.		174
	271,962		Glacier Bancorp, Inc		4,237
	55,510		Great Southern Bancorp, Inc		1,716
	30,620		Gruh Finance Ltd		120
	1,158,653		Grupo Aval Acciones y Valores		766
	4,484,789		Grupo Financiero Banorte S.A. de C.V.		25,351
	2,615,232		Grupo Financiero Inbursa S.A.		7,318
	204,854	*	Grupo Financiero Santander Mexico SAB de C.V. (ADR)		2,806
	279,734	*,e	Guaranty Bancorp		565
	396,203		Gunma Bank Ltd		2,012
	458,150		Hachijuni Bank Ltd		2,540
	79,483	*,e	Hampton Roads Bankshares, Inc		119
	359,110		Hana Financial Group, Inc		10,952
	304,116		Hancock Holding Co		9,412
	1,164,877	e	Hang Seng Bank Ltd		17,808
	227,494	*,e	Hanmi Financial Corp		2,914
	2,533,279		HDFC Bank Ltd		30,182
	55,182	e	Heartland Financial USA, Inc		1,505
	109,798	*	Heritage Commerce Corp		762

11

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	61,591		Heritage Financial Corp	$	926
	31,662	e	Heritage Financial Group		416
	73,585	*,e	Heritage Oaks Bancorp		424
	292,000		Higashi-Nippon Bank Ltd		640
	391,331		Higo Bank Ltd		2,379
	4,737	e	Hingham Institution for Savings		305
	24,000		Hiroshima Bank Ltd		80
	409,000	e	Hokkoku Bank Ltd		1,556
	438,000		Hokuetsu Bank Ltd		891
	63,200		Hokuhoku Financial Group, Inc		98
	25,681	*,e	Home Bancorp, Inc		462
	93,351		Home Bancshares, Inc		3,182
	42,869		Home Capital Group, Inc		2,243
	70,701		Home Federal Bancorp, Inc		800
	83,788	e	Home Loan Servicing Solutions Ltd		1,363
	21,389	*	HomeStreet, Inc		814
	33,700	*	HomeTrust Bancshares, Inc		447
	746,940		Hong Leong Bank BHD		3,269
	187,612		Hong Leong Credit BHD		726
	9,327	e	Horizon Bancorp		267
	1,891,606		Housing Development Finance Corp		27,711
	26,845,805		HSBC Holdings plc		249,391
	7,304,378		Hua Nan Financial Holdings Co Ltd		4,084
	648,882	e	Hudson City Bancorp, Inc		5,165
	53,780		Hudson Valley Holding Corp		917
	12,020,845		Huntington Bancshares, Inc		82,944
	402,692		Hyakugo Bank Ltd		1,813
	380,000		Hyakujushi Bank Ltd		1,527
	106,450		IBERIABANK Corp		4,875
	730,245		ICICI Bank Ltd		14,635
	29,576		ICICI Bank Ltd (ADR)		1,187
	93,801	e	Independent Bank Corp		2,822
	61,172		Indian Overseas Bank		91
	140,089,166	e	Industrial & Commercial Bank of China		82,202
	370,220		Industrial Bank of Korea		4,057
	994,879		ING Vysya Bank Ltd		7,677
	195,136		International Bancshares Corp		3,717
	3,759,535		Investimentos Itau S.A. - PR		16,746
	160,683	*	Investors Bancorp, Inc		2,931
	1,015,998	*	Israel Discount Bank Ltd		1,216
	65,236		Iyo Bank Ltd		531
	13,022		Jammu & Kashmir Bank Ltd		230
	90,464		Jeonbuk Bank		366
	975,406	e	Joyo Bank Ltd		4,770
	683,555		Juroku Bank Ltd		2,362
	100,597	*	Jyske Bank		2,977
	217,000		Kagoshima Bank Ltd		1,429
	411,535		Kansai Urban Banking Corp		548
	104,000		Kanto Tsukuba Bank Ltd		364
	228,595		Karnataka Bank Ltd		472
	12,505	*	Karur Vusya Bank Ltd		98
	473,000		Kasikornbank PCL		2,798

12

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	261,300		Kasikornbank PCL - NVDR	$	1,546
	1,996,700		Kasikornbank PCL (Foreign)		11,802
	1,001,654		KB Financial Group, Inc		35,504
	101,317		KBC Groep NV		2,433
	76,556	e	Kearny Financial Corp		746
	975,000		Keiyo Bank Ltd		4,464
	2,467,896		Keycorp		21,569
	34,279	e	K-Fed Bancorp		517
	825,235		Kiatnakin Bank PCL		1,238
	1,218,000	*	King’s Town Bank		848
	1,071,000		Kiyo Holdings, Inc		1,551
	31,608		Komercni Banka AS		6,274
	974,130	*	Korea Exchange Bank		7,421
	4,371,700		Krung Thai Bank PCL		2,593
	101,983	e	Lakeland Bancorp, Inc		1,056
	87,627	e	Lakeland Financial Corp		2,419
	64,886	e	Laurentian Bank of Canada		3,055
	915,363		LIC Housing Finance Ltd		4,889
	23,333		Liechtenstein Landesbank		837
	94,338,420	*	Lloyds TSB Group plc		59,401
	152,473	e	M&T Bank Corp		14,509
	92,622		MainSource Financial Group, Inc		1,189
	4,894,808		Malayan Banking BHD		14,407
	1,928,900		Malaysia Building Society		1,516
	205,120		MB Financial, Inc		4,051
	17,736,928		Mega Financial Holding Co Ltd		13,602
	28,992	*,e	Mercantile Bank Corp		497
	23,564		Merchants Bancshares, Inc		696
	47,424	*	Meridian Interstate Bancorp, Inc		782
	58,579	*,e	MetroCorp Bancshares, Inc		620
	1,923,861		Metropolitan Bank & Trust		4,262
	664,986	*,e	MGIC Investment Corp		1,017
	19,460	e	Middleburg Financial Corp		346
	30,637	e	Midsouth Bancorp, Inc		496
	23,606	e	MidWestOne Financial Group, Inc		508
	128,000	e	Mie Bank Ltd		293
	393,000		Minato Bank Ltd		764
	17,865,964		Mitsubishi UFJ Financial Group, Inc		83,605
	4,609,022		Mitsui Trust Holdings, Inc		13,683
	318,000		Miyazaki Bank Ltd		871
	179,304		Mizrahi Tefahot Bank Ltd		1,592
	35,663,143	e	Mizuho Financial Group, Inc		57,883
	72,226		Musashino Bank Ltd		2,220
	421,928	e	Nanto Bank Ltd		2,109
	15,196	*,e	NASB Financial, Inc		377
	3,478,438		National Australia Bank Ltd		91,454
	399,245	e	National Bank of Canada		30,214
	1,248,741	*	National Bank of Greece S.A.		3,013
	37,526	e	National Bankshares, Inc		1,246
	574,922	e	National Penn Bancshares, Inc		5,238
	113,044		National Societe Generale Bank SAE		800
	123,786	*,e	Nationstar Mortgage Holdings, Inc		4,107

13

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	655,677		Natixis	$	2,058
	155,906	e	NBT Bancorp, Inc		3,441
	565,239		Nedbank Group Ltd		12,469
	530,506	e	New York Community Bancorp, Inc		7,513
	177,829		Nishi-Nippon City Bank Ltd		412
	30,671	*,f	NOMOS-BANK (GDR) (purchased 05/04/11, cost $388)		383
	948,695		Nordea Bank AB		9,390
	62,540	e	Northfield Bancorp, Inc		1,002
	23,797	e	Northrim BanCorp, Inc		479
	349,942		Northwest Bancshares, Inc		4,280
	48,759		OceanFirst Financial Corp		715
	839,251	*	Ocwen Financial Corp		23,005
	481,000		Ogaki Kyoritsu Bank Ltd		1,735
	255,000		Oita Bank Ltd		836
	346,111		Old National Bancorp		4,711
	40,639	*,e	OmniAmerican Bancorp, Inc		924
	153,365	e	Oriental Financial Group, Inc		1,613
	283,918		Oritani Financial Corp		4,273
	433,894		OTP Bank		7,665
	1,649,551		Oversea-Chinese Banking Corp		12,510
	17,599	*	Pacific Capital Bancorp		808
	64,977		Pacific Continental Corp		580
	39,572	*,e	Pacific Mercantile Bancorp		259
	150,911		PacWest Bancorp		3,527
	666,709		Paragon Group of Cos plc		2,226
	11,100		Parana Banco S.A.		71
	40,925	e	Park National Corp		2,866
	126,846	*,e	Park Sterling Bank		627
	30,519		Peapack Gladstone Financial Corp		499
	17,954	e	Penns Woods Bancorp, Inc		796
	66,921	*	Pennsylvania Commerce Bancorp, Inc		848
	55,738	e	Peoples Bancorp, Inc		1,276
	23,163	e	Peoples Federal Bancshares, Inc		400
	452,815		People’s United Financial, Inc		5,497
	429,240	*	Philippine National Bank		753
	754,174		Piccolo Credito Valtellinese Scarl		1,239
	126,063	*,e	Pinnacle Financial Partners, Inc		2,436
	1,563,172	*	Piraeus Bank S.A.		711
	2,337,652		PNC Financial Services Group, Inc		147,506
	117,258	*,e	Popular, Inc		2,044
	1,312,445		Powszechna Kasa Oszczednosci Bank Polski S.A.		14,587
	43,527	*,e	Preferred Bank		617
	244,241		PrivateBancorp, Inc		3,905
	222,379		Prosperity Bancshares, Inc		9,478
	30,331	e	Provident Financial Holdings, Inc		431
	224,497		Provident Financial Services, Inc		3,545
	146,268	e	Provident New York Bancorp		1,376
	13,267,500		PT Bank Bukopin Tbk		883
	14,975,500		PT Bank Central Asia Tbk		12,324
	4,385,235		PT Bank Danamon Indonesia Tbk		2,856
	11,060,000		PT Bank Jabar Banten Tbk		1,266
	14,638,348		PT Bank Mandiri Persero Tbk		12,491

14

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	11,565,350		PT Bank Negara Indonesia	$	4,723
	6,481,000		PT Bank Tabungan Negara Tbk		971
	78,946		Public Bank BHD		371
	1,741,811		Public Bank BHD (Foreign)		8,191
	18,510		Punjab & Sind Bank		24
	480,146	e	Radian Group, Inc		2,084
	112,280	e	Raiffeisen International Bank Holding AG.		4,072
	8,741,998		Regions Financial Corp		63,030
	110,934	e	Renasant Corp		2,175
	63,262		Republic Bancorp, Inc (Class A)		1,389
	3,440,140		Resona Holdings, Inc		14,086
	807,480		RHB Capital BHD		1,902
	673,800		Rizal Commercial Banking Corp		735
	152,422		Rockville Financial, Inc		1,867
	40,928	e	Roma Financial Corp		364
	5,200	*,m	Roskilde Bank		0	^
	135,601	e	Royal Bank of Canada		7,785
	2,262,840	e	Royal Bank of Canada (Toronto)		130,140
	10,317,296	*	Royal Bank of Scotland Group plc		42,866
	158,680	e	S&T Bancorp, Inc		2,794
	46,138	e	S.Y. Bancorp, Inc		1,092
	84,374	e	Sandy Spring Bancorp, Inc		1,624
	212,000	e	San-In Godo Bank Ltd		1,544
	428,700		Sapporo Hokuyo Holdings, Inc		1,214
	1,166,943	*,f	Sberbank of Russia (ADR) (purchased 09/19/12, cost $14,214)		13,653
	4,378,908	e	Sberbank of Russian Federation (ADR)		51,598
	74,771		SCBT Financial Corp		3,012
	302,925	*,e	Seacoast Banking Corp of Florida		482
	622,336		Security Bank Corp		2,443
	774,388		Sekerbank TAS		544
	326,880	e	Senshu Ikeda Holdings, Inc		1,966
	298,300		Seven Bank Ltd		910
	361,000	e	Shiga Bank Ltd		2,270
	798,632		Shinhan Financial Group Co Ltd		27,144
	4,343,823		Shinsei Bank Ltd		5,611
	883,559		Shizuoka Bank Ltd		9,041
	39,112	e	SI Financial Group, Inc		458
	2,416,900		Siam Commercial Bank PCL		13,388
	62,471	e	Sierra Bancorp		766
	181,201	*,e	Signature Bank		12,155
	101,521		Simmons First National Corp (Class A)		2,473
	8,439,551		SinoPac Financial Holdings Co Ltd		3,540
	4,068,507		Skandinaviska Enskilda Banken AB (Class A)		34,092
	1,364,505		Societe Generale		38,667
	72,439	e	Southside Bancshares, Inc		1,580
	115,746	*	Southwest Bancorp, Inc		1,256
	220,447		Sparebanken Midt-Norge		1,427
	3,945		St Galler Kantonalbank		1,476
	1,730,859		Standard Bank Group Ltd		21,988
	6,776,580		Standard Chartered plc		153,550
	128,174		Standard Chartered plc (Hong Kong)		2,942

15

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	141,046		State Bank & Trust Co	$	2,326
	10,927		State Bank of Bikaner & Jaip		78
	78,347		State Bank of India Ltd		3,320
	77,295	f	State Bank of India Ltd (GDR) (purchased 11/30/11, cost $5,953)		6,666
	2,543		State Bank of Travancore		25
	119,171		StellarOne Corp		1,568
	162,485	e	Sterling Bancorp		1,612
	92,848		Sterling Financial Corp		2,068
	42,007	*	Suffolk Bancorp		616
	3,491,571	e	Sumitomo Mitsui Financial Group, Inc		108,791
	156,544	*,e	Sun Bancorp, Inc		528
	2,379,009		SunTrust Banks, Inc		67,255
	204,678		Suruga Bank Ltd		2,320
	788,116		Susquehanna Bancshares, Inc		8,244
	111,111	*	SVB Financial Group		6,718
	387,898		Svenska Handelsbanken (A Shares)		14,557
	2,103,649		Swedbank AB (A Shares)		39,567
	91,803		Sydbank AS		1,733
	188,879		Syndicate Bank		388
	1,949,818	e	Synovus Financial Corp		4,621
	2,201,934	*	Ta Chong Bank Co Ltd		764
	2,126,614		Taichung Commercial Bank		721
	7,872,768		Taishin Financial Holdings Co Ltd		3,024
	3,786,071	*	Taiwan Business Bank		1,136
	7,252,813		Taiwan Cooperative Financial Holding		4,008
	56,694	*,e	Taylor Capital Group, Inc		971
	3,039,509		TCF Financial Corp		36,292
	51,758		Territorial Bancorp, Inc		1,188
	268,204	*	Texas Capital Bancshares, Inc		13,332
	91,094	*	TFS Financial Corp		826
	1,342,800		Thanachart Capital PCL		1,643
	171,099	*,e	The Bancorp, Inc		1,757
	1,238,800		Tisco Bank PCL		1,861
	219,000		Tochigi Bank Ltd		807
	452,000		Toho Bank Ltd		1,547
	75,300		Tokyo Tomin Bank Ltd		705
	219,100		Tomony Holdings, Inc		977
	35,086		Tompkins Trustco, Inc		1,422
	1,481,067	e	Toronto-Dominion Bank		123,520
	491,000		Towa Bank Ltd		477
	96,543	e	TowneBank		1,480
	14,311	*	Tree.com, Inc		224
	73,649		Trico Bancshares		1,217
	520,503		Trustco Bank Corp NY		2,977
	255,297		Trustmark Corp		6,214
	4,177,026		Turkiye Garanti Bankasi AS		17,450
	1,215,730		Turkiye Halk Bankasi AS		9,478
	2,170,045		Turkiye Is Bankasi (Series C)		6,820
	882,943		Turkiye Sinai Kalkinma Bankasi AS		984
	2,022,580		Turkiye Vakiflar Bankasi Tao		4,373
	538,991		UCO Bank		783

16

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	165,896	e	UMB Financial Corp	$	8,076
	544,572		Umpqua Holdings Corp		7,020
	3,440,325	*,e	UniCredit S.p.A		14,316
	31,330		Union Bank of Israel		94
	562,640	*	Union Bank Of Taiwan		202
	95,010	e	Union Bankshares Corp		1,478
	214,925	e	United Bankshares, Inc		5,354
	185,391	*,e	United Community Banks, Inc		1,555
	87,668	e	United Financial Bancorp, Inc		1,269
	1,866,679		United Overseas Bank Ltd		29,768
	66,849	e	Univest Corp of Pennsylvania		1,203
	10,133,971	e	US Bancorp		347,595
	369,914		UTI Bank Ltd		7,944
	23,284		Valiant Holding		2,025
	236,278	e	Valley National Bancorp		2,368
	210,461	e	ViewPoint Financial Group		4,035
	436,660		Vijaya Bank		465
	104,713	*,e	Virginia Commerce Bancorp		916
	1,555,863	e,f	VTB Bank OJSC (GDR) (purchased 03/31/11, cost $8,494)		5,205
	55,018	*	Walker & Dunlop, Inc		846
	64,749		Washington Banking Co		917
	131,724		Washington Federal, Inc		2,197
	55,661	e	Washington Trust Bancorp, Inc		1,462
	18,764	*,e	Waterstone Financial, Inc		97
	284,778		Webster Financial Corp		6,749
	26,781,151		Wells Fargo & Co		924,752
	86,367	e	WesBanco, Inc		1,789
	74,830	e	West Bancorporation, Inc		902
	73,184	*	West Coast Bancorp		1,648
	100,773	e	Westamerica Bancorporation		4,741
	267,457	*,e	Western Alliance Bancorp		2,728
	146,373	e	Westfield Financial, Inc		1,096
	4,954,219		Westpac Banking Corp		127,030
	415,907	*,e	Wilshire Bancorp, Inc		2,620
	288,398		Wing Hang Bank Ltd		2,700
	174,873	e	Wintrust Financial Corp		6,570
	678,500		Woori Finance Holdings Co Ltd		6,678
	37,851		WSFS Financial Corp		1,562
	29,600		Yachiyo Bank Ltd		573
	235,000	e	Yamagata Bank Ltd		1,095
	84,905		Yamaguchi Financial Group, Inc		687
	314,000		Yamanashi Chuo Bank Ltd		1,334
	2,171,770	*	Yapi ve Kredi Bankasi		5,176
	228,118	e	Zions Bancorporation		4,712
			TOTAL BANKS		6,468,365
CAPITAL GOODS - 7.6%
	1,331,191		3M Co		123,029
	224,920		A.O. Smith Corp		12,942
	131,929		Aalberts Industries NV		2,368
	67,983	e	Aaon, Inc		1,339

17

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	143,086		AAR Corp	$	2,349
	989,350		ABB Ltd		18,562
	180,711	e	Abengoa S.A.		3,170
	40,001		ABG Shipyard Ltd		284
	3,836,322		Aboitiz Equity Ventures Inc		4,490
	1,144,000		AcBel Polytech, Inc		833
	168,570	*,e	Accuride Corp		786
	199,000		ACES Electronic Co Ltd		310
	105,622	e	Aceto Corp		998
	146,780	e	ACS Actividades Cons y Servicios S.A.		3,025
	80,970		Acter Co Ltd		314
	309,417	e	Actuant Corp (Class A)		8,856
	206,616	e	Acuity Brands, Inc		13,077
	387,688		Adani Enterprises Ltd		1,476
	45,276		Aditya Birla Nuvo Ltd		768
	169,500		Advan Co Ltd		1,763
	49,000		Advanced Ceramic X Corp		142
	521,080	*	Aecom Technology Corp		11,026
	161,187		Aecon Group, Inc		1,979
	143,443	*	Aegion Corp		2,748
	85,104	*,e	Aerovironment, Inc		1,997
	20,168		AFG Arbonia-Forster Hldg		377
	15,100	e	AG Growth International Inc		495
	606,962	*	AGCO Corp		28,819
	129,999		Aica Kogyo Co Ltd		2,221
	40,500		Aichi Corp		176
	180,600		Aida Engineering Ltd		1,199
	152,652	*,e	Air Lease Corp		3,114
	206,216		Aircastle Ltd		2,336
	83,000		Airtac International Group		415
	126,857	*	Akfen Holding AS.		613
	33,732	e	Alamo Group, Inc		1,139
	226,239		Alarko Holding AS		482
	101,711	e	Albany International Corp (Class A)		2,235
	186,159		Alesco Corp Ltd		378
	57,115		Alfa Laval AB		1,038
	6,618,740	e	Alfa S.A. de C.V. (Class A)		12,218
	14,165,400		Alliance Global Group, Inc		4,980
	89,528	e	Alliant Techsystems, Inc		4,486
	28,092		Allied Electronics Corp Ltd		77
	164,679		Allied Electronics Corp Ltd (Preference)		435
	24,862		Alstom Projects India Ltd		189
	506,680		Alstom RGPT		17,738
	41,890		Alstom T&D India Ltd		169
	96,760	e	Altra Holdings, Inc		1,761
	780,025		Amada Co Ltd		3,408
	129,400		Amano Corp		1,113
	6,208		Amara Raja Batteries Ltd		26
	73,494	*	Ameresco, Inc		868
	46,127	*	American Railcar Industries, Inc		1,307
	56,413		American Science & Engineering, Inc		3,701
	153,807	*,e	American Superconductor Corp		638

18

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	47,311	*,e	American Woodmark Corp	$	945
	1,003,727		Ametek, Inc		35,581
	48,954		Ampco-Pittsburgh Corp		903
	34,000	*	Amrep Corp		0	^
	255,000	e	Amtek Engineering Ltd		125
	79,328		Andritz AG.		4,498
	3,360,000	*	Apac Resources Ltd		108
	119,799	*,e	API Technologies Corp		344
	105,464		Apogee Enterprises, Inc		2,069
	187,968	e	Applied Industrial Technologies, Inc		7,788
	101,346		Arcadis NV		2,144
	53,042	e	Argan, Inc		926
	31,605		Armstrong World Industries, Inc		1,466
	373,134	*	ArvinMeritor, Inc		1,582
	73,200	e	Asahi Diamond Industrial Co Ltd		821
	1,897,205		Asahi Glass Co Ltd		12,621
	179,883		Aselsan Elektronik Sanayi Ve Ticaret AS		650
	1,385,608		Ashok Leyland Ltd		633
	1,308,543		Ashtead Group plc		6,865
	1,173,269		Assa Abloy AB (Class B)		38,093
	160,910		Astaldi S.p.A.		1,045
	72,036	*,e	Astec Industries, Inc		2,277
	42,046	*,e	Astronics Corp		1,295
	583,016		Asunaro Aoki Construction Co Ltd		2,970
	341,842		Atlas Copco AB (A Shares)		7,988
	185,297		Atlas Copco AB (B Shares)		3,884
	119,219	*	ATS Automation Tooling Systems, Inc		1,079
	670,341	e	Ausdrill Ltd		2,004
	269,672	e	Ausenco Ltd		747
	1,253,451		Austal Ltd		1,801
	57,652	e	Austin Engineering Ltd		242
	546,591		Aveng Ltd		2,061
	6,524,000	*	AVIC International Holding HK Ltd		205
	3,204,000	e	AviChina Industry & Technology Co		1,213
	122,348	e	AZZ, Inc		4,647
	33,087		B&B Tools AB		252
	396,682	*	Babcock & Wilcox Co		10,103
	6,808,753		BAE Systems plc		35,799
	1,125,772		Balfour Beatty plc		5,533
	172,121		Bando Chemical Industries Ltd		601
	226,000		Baoye Group Co Ltd		128
	298,442		Barloworld Ltd		2,577
	379,745		Barnes Group, Inc		9,497
	122,565		Basil Read Holdings Ltd		129
	8,405		Bauer AG.		185
	16,802		BayWa AG.		663
	592,747	*	BE Aerospace, Inc		24,955
	51,554	e	BE Group AB		134
	57	*	Beacon Power Corp		0	^
	166,165	*,e	Beacon Roofing Supply, Inc		4,736
	945,900		Beijing Enterprises Holdings Ltd		6,294
	251,989		Belden CDT, Inc		9,293

19

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	7,321		BEML Ltd	$	43
	242,800		Benalec Holdings BHD		92
	1,824,000		Berjaya Corp BHD		372
	801,000		BES Engineering Corp		212
	528,759		Besalco S.A.		949
	1,308,076		Bharat Heavy Electricals		6,111
	10,415		BHI Co Ltd		296
	512,804		Bidvest Group Ltd		12,686
	91,838	e	Bird Construction Income Fund		1,345
	177,554	*	Blount International, Inc		2,337
	3,000		Blue Star Ltd		10
	58,459	*,e	Bluelinx Holdings, Inc		137
	587,825	e	Boart Longyear Group		995
	15,451	*	Bobst Group AG.		460
	519,880		Bodycote plc		3,289
	5,292,233		Boeing Co		368,445
	441,000		Boer Power Holdings Ltd		153
	1,834,000	e	Bombardier, Inc		6,884
	138,856		Boskalis Westminster		5,016
	3,425		Bossard Holding AG.		454
	151,114		Bouygues S.A.		3,675
	220,739	e	Bradken Ltd		1,267
	218,269		Brady Corp (Class A)		6,391
	73,511		Brenntag AG.		9,420
	220,687	e	Briggs & Stratton Corp		4,120
	19,000		Bucher Industries AG.		3,407
	16,806		Budimex S.A.		310
	174,182	*,e	Builders FirstSource, Inc		904
	112,000		Bunka Shutter Co Ltd		504
	414,162		Bunzl plc		7,427
	55,268		Burckhardt Compression Holding AG.		16,415
	913,871		CAE, Inc		9,788
	44,335	*,e	CAI International, Inc		910
	1,018,413	*,e	Capstone Turbine Corp		1,018
	19,402		Carbone Lorraine		571
	144,904		Cardno Ltd		1,089
	57,564	e	Cargotec Corp (B Shares)		1,361
	596,171		Carillion plc		2,614
	362,679		Carlisle Cos, Inc		18,830
	33,287	e	Cascade Corp		1,822
	2,560,287		Caterpillar, Inc		220,288
	417,900		CB Industrial Product Holding BHD		362
	887,000		Central Glass Co Ltd		2,632
	9,491		CENTROTEC Sustainable AG.		168
	93,044	e	Ceradyne, Inc		2,273
	123,517	*	Cersanit Krasnystaw S.A.		95
	97,000		Champion Building Materials Co Ltd		40
	218,500		Changchai Co Ltd		81
	6,021,440	e	Changsha Zoomlion Heavy Industry Science and Technology Development Co Ltd		6,781
	118,323	*	Chart Industries, Inc		8,738
	260,372		Chemring Group plc		1,368

20

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	348,000		Chen Hsong Holdings	$	93
	212,000	*	Chengdu Putian Telecom Cable Co Ltd		20
	1,297,397	e	Chicago Bridge & Iron Co NV		49,417
	746,050		Chien Kuo Construction Co Ltd		361
	819,000	e	China Automation Group Ltd		165
	9,328,000	e	China Communications Construction Co Ltd		7,517
	5,804,000	*	China Daye Non-Ferrous Metals Mining Ltd		239
	570,000		China Electric Manufacturing Corp		410
	3,854,000	*	China Energine International Holdings Ltd		120
	531,050	*	China Fangda Group Co Ltd		157
	1,566,000	e	China High Speed Transmission Equipment Group Co Ltd		458
	2,081,012		China International Marine Containers Co Ltd (Class B)		2,585
	1,577,000	e	China National Materials Co Ltd		440
	5,292,000	e	China Railway Construction Corp		4,711
	8,268,000		China Railway Group Ltd		3,594
	862,400		China Singyes Solar Technologies Holdings Ltd		420
	6,471,500	e	China South Locomotive and Rolling Stock Corp		4,252
	2,840,000	e	China State Construction International Holdings Ltd		3,318
	145,000		China Steel Structure Co Ltd		144
	182,380	*	China Textile Machinery		70
	494,000		Chip Eng Seng Corp Ltd		194
	400,928	e	Chiyoda Corp		6,229
	26,200		Chiyoda Integre Co Ltd		278
	5,840,000		Chongqing Machinery & Electric Co Ltd		763
	2,463		Chosun Refractories Co Ltd		144
	36,000		Chudenko Corp		335
	94,989	e	Chugai Ro Co Ltd		258
	1,374,000		Chung Hsin Electric & Machinery Manufacturing Corp		741
	25,300		Churchill Corp		254
	631,007		Cintra Concesiones de Infraestructuras de Transporte S.A.		8,221
	548,239	e	CIR-Compagnie Industriali Riunite S.p.A.		621
	64,103		CIRCOR International, Inc		2,420
	2,825,814	e	Citic Pacific Ltd		3,374
	8,457,000	*	Citic Resources Holdings Ltd		1,137
	21,199		CJ Corp		1,912
	72,100	e	CKD Corp		410
	160,753		Clal Industries and Investments		518
	239,989	e	Clarcor, Inc		10,711
	346,736		Clough Ltd		252
	309,201	*	CNH Global NV		11,988
	403,866		Coastal Contracts BHD		231
	3,310,009		Cobham plc		11,873
	459,368		Cofide S.p.A.		267
	34,935	e	Coleman Cable, Inc		337
	104,233	*,e	Colfax Corp		3,822
	108,937	*	Columbus McKinnon Corp		1,646
	192,362	e	Comfort Systems USA, Inc		2,103
	101,203	*,e	Commercial Vehicle Group, Inc		744
	1,219,982		Compagnie de Saint-Gobain		42,702
	7,985		Compagnie d’Entreprises CFE		405

21

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	179,100	e	COMSYS Holdings Corp	$	2,496
	55,224		Concentric AB		414
	4,406		Construcciones y Auxiliar de Ferrocarriles S.A.		2,150
	1,081,000		Continental Engineering Corp		429
	429,420		Cookson Group plc		4,156
	364,435		Cooper Industries plc		27,353
	809,131	e	Cosco Corp Singapore Ltd		633
	1,452,000	e	Cosco International Holdings Ltd		571
	26,885		Cosel Co Ltd		359
	91,657	e	Costain Group plc		369
	14,203	*,e	CPI Aerostructures, Inc		154
	35,858		Cramo Oyj (Series B)		374
	63,958		Crane Co		2,554
	170,541		Crompton Greaves Ltd		407
	1,084,590		CSBC Corp Taiwan		743
	678,922	e	CSR Ltd		1,094
	1,631,000		CTCI Corp		3,726
	126,281		Cubic Corp		6,322
	954,593		Cummins, Inc		88,023
	204,103		Curtiss-Wright Corp		6,674
	661,000		DA CIN Construction Co Ltd		432
	37,378		Daelim Industrial Co		3,165
	126,215	*	Daewoo Engineering & Construction Co Ltd		1,180
	74,138		Daewoo International Corp		2,792
	169,731		Daewoo Shipbuilding & Marine Engineering Co Ltd		3,926
	296,500		Daifuku Co Ltd		1,482
	134,641		Daihen Corp		346
	104,280		Daiichi Jitsugyo Co Ltd		454
	610,422	e	Daikin Industries Ltd		15,788
	69,000		Daiwa Industries Ltd		320
	190,200		Dalian Refrigeration Co Ltd		97
	2,340,728		Danaher Corp		129,091
	42,911	e	Danieli & Co S.p.A.		1,077
	108,452		Danieli & Co S.p.A. (RSP)		1,500
	182,791		DCC plc		5,253
	94,237	*	Deceuninck NV		150
	394,190	e	Decmil Group Ltd		1,107
	752,636		Deere & Co		62,085
	8,529		Delek Group Ltd		1,431
	38,500		Denyo Co Ltd		424
	105,282	*	Deutz AG.		474
	2,813,850		Dialog Group BHD		2,196
	3,160,000	*,m	Dickson Group Holdings Ltd		18
	128,096	*,e	DigitalGlobe, Inc		2,612
	34,306		Discount Investment Corp		68
	1,709,430		DMCI Holdings, Inc		2,374
	738,308	*	Dogan Sirketler Grubu Holdings		296
	350,844		Donaldson Co, Inc		12,178
	520,800	e	Dongfang Electric Co Ltd		706
	26,169		Dongkuk Structures & Construction Co Ltd		85
	12,006		Doosan Corp		1,477
	24,330	*	Doosan Engine Co Ltd		221

22

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	66,843		Doosan Heavy Industries and Construction Co Ltd	$	3,346
	132,810	*	Doosan Infracore Co Ltd		2,249
	101,128	e	Douglas Dynamics, Inc		1,496
	429,650	e	Dover Corp		25,560
	47,588		Duerr AG.		3,173
	121,564		Duro Felguera S.A.		744
	46,933	*	DXP Enterprises, Inc		2,242
	127,443	*,e	Dycom Industries, Inc		1,833
	70,268		Dynamic Materials Corp		1,055
	297,000		Dynapack International Technology Corp		1,372
	423,900		Dynasty Ceramic PCL		698
	22,868	e	Eastern Co		429
	1,463,395	e	Eaton Corp		69,160
	531,828	e	Ebara Corp		2,221
	56,447	*,e	Edgen Group, Inc		437
	608,383	*	Edwards Group Ltd (ADR)		4,021
	3,287		Eicher Motors Ltd		144
	103,078	e	Eiffage S.A.		3,380
	45,867		Elbit Systems Ltd		1,571
	2,620		Electra Israel Ltd		198
	319,006	e	EMCOR Group, Inc		9,104
	1,905,426		Emeco Holdings Ltd		1,438
	1,797,165		Emerson Electric Co		86,748
	748,982		Empresa Brasileira de Aeronautica S.A.		5,028
	603,479		Empresas COPEC S.A.		8,895
	1,377,500	*,e	Empresas ICA Sociedad Controladora S.A. de C.V.		2,665
	62,751		Encore Wire Corp		1,836
	208,279	*,e	Energy Recovery, Inc		617
	260,413	*	EnerSys		9,190
	66,792		ENG Electric Co Ltd		81
	30,427	*,e	Engility Holdings, Inc		561
	2,537,692		Engineers India Ltd		11,344
	1,111,546		Enka Insaat ve Sanayi AS		2,786
	20,028	*,e	Enphase Energy, Inc		83
	75,740	*,e	EnPro Industries, Inc		2,727
	96,000		Enric Energy Equipment Holdings Ltd		57
	108,749		ESCO Technologies, Inc		4,225
	169,862		Escorts Ltd		206
	123,797	*	Esterline Technologies Corp		6,950
	1,125,834	e	European Aeronautic Defence and Space Co		35,683
	1,336,000		EVA Precision Industrial Holdings Ltd		113
	220,280		Exelis, Inc		2,278
	48,131		Fabryka Kotlow Rafako S.A.		132
	7,419		Faiveley S.A.		460
	192,049	*	Fanuc Ltd		30,912
	4,351,852		Far Eastern Textile Co Ltd		4,896
	784,626	e	Fastenal Co		33,731
	252,065	*,e	Federal Signal Corp		1,593
	647,578	e	Fenner plc		4,050
	1,092,781		Ferreyros S.A.		989
	2,044,521		Fiat Industrial S.p.A.		20,022
	326,323		Finmeccanica S.p.A.		1,551

23

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	333,192		Finning International, Inc	$	8,080
	2,588,000	e	First Tractor Co		1,978
	172,637	*	Flow International Corp		639
	227,479		Flowserve Corp		29,058
	79,460	e	FLSmidth & Co AS		4,594
	765,251		Fluor Corp		43,068
	237,150	e	Fomento de Construcciones y Contratas S.A.		3,099
	141,665	e	Forge Group Ltd		576
	695,179		Forjas Taurus S.A. (Preference)		926
	1,351,410	*	Fortune Brands Home & Security, Inc		36,502
	523,000		Fortune Electric Co Ltd		237
	290,100		Foshan Electrical and Lighting Co Ltd		173
	125,291		Franklin Electric Co, Inc		7,579
	1,208,099		Fraser and Neave Ltd		8,707
	81,151		Freightcar America, Inc		1,444
	41,635		Frigoglass S.A.		256
	401,942		FSP Technology, Inc		392
	183,200	*,e	Fudo Tetra Corp		246
	525,266	*,e	FuelCell Energy, Inc		462
	939,302	*,e	Fuji Electric Holdings Co Ltd		1,905
	74,696		Fuji Machine Manufacturing Co Ltd		1,006
	459,978	e	Fujikura Ltd		1,376
	149,000		Fujitec Co Ltd		876
	140,147	*,e	Furmanite Corp		796
	413,000	*	Furukawa Co Ltd		381
	859,762	*	Furukawa Electric Co Ltd		1,615
	40,019	*	Futaba Corp/Chiba		517
	306,000		G Shank Enterprise Co Ltd		191
	668,000	*	Gallant Venture Ltd		165
	146,051		Galliford Try plc		1,723
	280,344	e	Gamesa Corp Tecnologica S.A.		590
	2,161,500		Gamuda BHD		2,427
	120,062		Gardner Denver, Inc		7,253
	108,363		GATX Corp		4,599
	50,970		GEA Group AG.		1,545
	51,926		Geberit AG.		11,310
	411,114	*,e	GenCorp, Inc		3,901
	127,079	e	Generac Holdings, Inc		2,909
	115,713	*	General Cable Corp		3,400
	620,175		General Dynamics Corp		41,006
	42,835,911		General Electric Co		972,803
	58,068	*	GeoEye, Inc		1,535
	9,356		Georg Fischer AG.		3,315
	6,791		Gesco AG.		575
	176,860	*,e	Gibraltar Industries, Inc		2,267
	292,221		Giken Seisakusho Co, Inc		1,576
	179,555		Gildemeister AG.		3,193
	69,161	e	Global Power Equipment Group, Inc		1,279
	591,000		Globe Union Industrial Corp		359
	82,056		Glory Ltd		1,923
	1,674,323	*	GMR Infrastructure Ltd		785
	388,000		Good Friend International Holdings, Inc		144

24

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	53,395		Gorman-Rupp Co	$	1,442
	154,290		Graco, Inc		7,758
	277,014	*,e	GrafTech International Ltd		2,490
	319,651		Grafton Group plc		1,393
	40,523	e	Graham Corp		732
	303,765		Grana y Montero S.A.		1,029
	151,633		Granite Construction, Inc		4,355
	9,950		Graphite India Ltd		15
	211,509	e	Great Lakes Dredge & Dock Corp		1,629
	22,415		Greaves Cotton Ltd		33
	82,949	*,e	Greenbrier Cos, Inc		1,339
	233,557		Griffon Corp		2,406
	58,821	*	Grontmij (ADR)		188
	149,813		Group Five Ltd		457
	1,076,037	e	Grupo Carso S.A. de C.V. (Series A1)		3,690
	47,674		GS Engineering & Construction Corp		3,255
	10,060		GS Global Corp		128
	106,065	e	GS Yuasa Corp		441
	98,800	e	Guangzhou Shipyard International Co Ltd		68
	312,604	e	GWA International Ltd		590
	137,012		H&E Equipment Services, Inc		1,661
	1,193,000	e	Haitian International Holdings Ltd		1,346
	55,224	e	Haldex AB		280
	6,670		Halla Engineering & Construction Corp		65
	3,357		Hamon & CIE S.A.		51
	430,596		Hangzhou Steam Turbine Co		451
	39,530	*	Hanjin Heavy Industries & Construction Co Ltd		427
	47,280		Hanjin Heavy Industries & Construction Holdings Co Ltd		338
	497,395		Hanwa Co Ltd		1,723
	734,700		HAP Seng Consolidated BHD		393
	2,078,000		Harbin Power Equipment		1,589
	42,578		Hardinge, Inc		436
	12,100	e	Harmonic Drive Systems, Inc		235
	97,365		Harsco Corp		1,999
	216,819		Havells India Ltd		2,565
	190,284	e	Heico Corp		7,362
	259,276	*,e	Heidelberger Druckmaschinen		396
	167,708		Hellenic Technodomiki Tev S.A.		299
	2,804,000		Henderson Investment Ltd		209
	374,927	*	Hexcel Corp		9,006
	26,000		Hibiya Engineering Ltd		338
	306,659		Hills Industries Ltd		364
	1,195,866		Hindustan Construction Co		406
	888,577	*,e	Hino Motors Ltd		5,817
	27,000		Hisaka Works Ltd		186
	233,000	*	Hitachi Cable Ltd		315
	212,034	e	Hitachi Construction Machinery Co Ltd		3,424
	68,300		Hitachi Koki Co Ltd		520
	1,046,899		Hitachi Zosen Corp		1,205
	253,638		Hiwin Technologies Corp		1,850
	4,838,000		HKC Holdings Ltd		187
	10,189		Hochtief AG.		478

25

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	446,735		Hock Seng Lee BHD	$	233
	11,552		Homag Group AG.		148
	6,777,994		Honeywell International, Inc		404,985
	159,000	e	Hong Leong Asia Ltd		222
	929,387		Hopewell Holdings		3,203
	46,400		Hoshizaki Electric Co Ltd		1,348
	67,000		Hosokawa Micron Corp		369
	73,068		Houston Wire & Cable Co		786
	911,000		HUA ENG Wire & Cable		329
	189,400		Huangshi Dongbei Electrical Appliance Co Ltd		97
	87,722		Hubbell, Inc (Class B)		7,083
	22,118		Huber & Suhner AG.		990
	105,938	*	Huntington Ingalls		4,455
	24,380	*	Hurco Cos, Inc		558
	2,478,961		Hutchison Whampoa Ltd		23,907
	17,644		Hy-Lok Corp		361
	26,020		Hyundai Corp		543
	201,766		Hyundai Development Co		4,006
	95,044		Hyundai Engineering & Construction Co Ltd		5,729
	67,742		Hyundai Heavy Industries		15,249
	14,400		Hyundai Mipo Dockyard		1,747
	5,839	*	Hyunjin Materials Co Ltd		42
	61,300	e	Idec Corp		531
	107,646		IDEX Corp		4,496
	669,019	*	Ihlas Holding		504
	194,262	*	II-VI, Inc		3,695
	1,661,007		IJM Corp BHD		2,561
	31,410		Iljin Electric Co Ltd		154
	1,921,202	e	Illinois Tool Works, Inc		114,255
	21,470		IMARKETKOREA,Inc		547
	55,188		IMI plc		804
	28,039		Implenia AG.		1,134
	389,975		Impregilo S.p.A.		1,588
	28,640		IMS-Intl Metal Service		312
	103,332		Imtech NV		2,729
	38,010		Inaba Denki Sangyo Co Ltd		1,087
	119,837		Inabata & Co Ltd		776
	44,983		Indus Holding AG.		1,097
	338,131		Industrea Ltd		435
	6,809		Industria Macchine Automatiche S.p.A.		118
	39,000		Industrias Romi S.A.		112
	25,770		Indutrade AB		765
	996		Ingersoll-Rand India Ltd		9
	2,546,990		Ingersoll-Rand plc		114,156
	66,599	e	Insteel Industries, Inc		781
	2,925,000	*	Interchina Holdings Co		247
	89,272	e	Interpump Group S.p.A.		663
	307,190		Interserve plc		1,811
	12,960,565		Invensys plc		49,133
	266,900		Iochpe-Maxion S.A.		3,502
	271,886		IRB Infrastructure Developers Ltd		782
	529,000	e	Iseki & Co Ltd		1,287

26

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	296,000		I-Sheng Electric Wire & Cable Co Ltd	$	415
	11,458,341		Ishikawajima-Harima Heavy Industries Co Ltd		25,520
	1,650,000		Italian-Thai Development PCL		193
	3,020,977	e	Itochu Corp		30,498
	218,740		ITT Corp		4,408
	759,135		IVRCL Infrastructures & Projects Ltd		667
	496,000		Iwatani International Corp		1,803
	298,783	*	Jacobs Engineering Group, Inc		12,080
	198,102		Jain Irrigation Systems Ltd		261
	1,251,669		Jaiprakash Associates Ltd		1,944
	106,604		Japan Pulp & Paper Co Ltd		359
	330,443	e	Japan Steel Works Ltd		1,836
	1,322,000	*	Jaya Holdings Ltd		629
	151,000	e	JFE Shoji Trade Corp		542
	1,315,957		JG Summit Holdings (Series B)		1,026
	172,294		JGC Corp		5,738
	7,320,000	*,e	Jia Sheng Holdings Ltd		268
	4,540,000	e	Jiangsu Rongsheng Heavy Industry Group Co Ltd		597
	460,000		Jingwei Textile Machinery		223
	8,516		Jinsung T.E.C.		89
	105,236		John Bean Technologies Corp		1,719
	2,223,500		Johnson Electric Holdings Ltd		1,449
	876,051		Joy Global, Inc		49,111
	950,691		JS Group Corp		22,655
	827,477	e	JTEKT Corp		6,541
	179,000	e	Juki Corp		226
	42,238		Jungheinrich AG.		1,402
	9,921	*	JVM Co Ltd		382
	6,649		Kaba Holding AG.		2,595
	76,129	*,e	Kadant, Inc		1,765
	242,434	e	Kajima Corp		661
	8,178		Kalpataru Power Transmission Ltd		14
	96,278	e	Kaman Corp		3,453
	125,000	*,e	Kamei Corp		1,213
	27,000	*	Kanamoto Co Ltd		315
	292,000		Kandenko Co Ltd		1,391
	554,000	*	Kanematsu Corp		647
	23,600		Katakura Industries Co Ltd		219
	23,000		Kaulin Manufacturing Co Ltd		15
	1,540,640		Kawasaki Heavy Industries Ltd		3,056
	118,507		Kaydon Corp		2,647
	1,272,044		KBR, Inc		37,932
	14,336		KCC Corp		3,746
	8,053		KCC Engineering & Construction Co Ltd		197
	66,866	e	KCI Konecranes Oyj		1,945
	10,039		KEC International Ltd		14
	25,000	e	Keihan Electric Railway Co Ltd		119
	89,524		Keller Group plc		803
	10,657		Kendrion NV		223
	337,087		Kennametal, Inc		12,499
	219,966		Kentz Corp Ltd		1,532
	31,794	*	Kepler Weber S.A.		138

27

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	3,859,707		Keppel Corp Ltd	$	35,686
	65,538	*,e	KEYW Holding Corp		819
	46,099	*	KHD Humboldt Wedag International AG.		295
	55,739		Kier Group plc		1,166
	140,937		Kinden Corp		887
	192,000		King Slide Works Co Ltd		1,097
	171,151		Kingspan Group plc		1,742
	49,000		Kinik Co		71
	50,000		Kinki Sharyo Co Ltd		161
	125,000		Kitz Corp		536
	132,944	e	Kloeckner & Co AG.		1,274
	1,418,185		KOC Holding AS		5,675
	19,790		Kolon Engineering & Construction Co Ltd		71
	1,435,263	e	Komatsu Ltd		28,131
	4,536		Komax Holding AG.		341
	80,690		Komori Corp		414
	167,656	e	Kone Oyj (Class B)		11,620
	307,328	e	Koninklijke BAM Groep NV		939
	2,439,833		Koninklijke Philips Electronics NV		56,964
	14,708	*	Koor Industries Ltd		142
	72,525	*	Kopex S.A.		430
	47,930		Korea Aerospace Industries Ltd		1,199
	28,580		Korea Electric Terminal Co Ltd		691
	136,629	*,e	Kratos Defense & Security Solutions, Inc		798
	17,605		Krones AG.		943
	235		KSB AG.		122
	555,757	e	Kubota Corp		5,609
	33,668	*	KUKA AG.		970
	5,000		Kumho Electric Co Ltd		109
	84,761	*	Kumho Industrial Co Ltd		228
	173,310	e	Kurita Water Industries Ltd		3,832
	93,370		Kuroda Electric Co Ltd		1,138
	87,800	*,e	Kyokuto Kaihatsu Kogyo Co Ltd		735
	67,000		Kyosan Electric Manufacturing Co Ltd		230
	111,600		Kyowa Exeo Corp		1,318
	54,000		Kyudenko Corp		266
	287,244		L-3 Communications Holdings, Inc		20,598
	1,074		Lakshmi Machine Works Ltd		41
	2,259,104	*	Lanco Infratech Ltd		643
	455,810		Larsen & Toubro Ltd		13,770
	1,154	e	Lawson Products, Inc		8
	92,060	*,e	Layne Christensen Co		1,805
	55,066		LB Foster Co (Class A)		1,781
	102,182		Legrand S.A.		3,852
	159,162	e	Leighton Holdings Ltd		2,723
	294,237		Lennox International, Inc		14,229
	380,000		Leoch International Technology Ltd		47
	174,958		LG Corp		9,724
	13,364		LG Hausys Ltd		977
	67,620		LG International Corp		2,828
	313,431		Lincoln Electric Holdings, Inc		12,239
	96,175		Lindab International AB		749

28

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	46,957	e	Lindsay Manufacturing Co	$	3,379
	6,718		LISI		460
	34,856	*,e	LMI Aerospace, Inc		712
	641,985		Lockheed Martin Corp		59,949
	159,000		Longwell Co		191
	3,787,000	e	Lonking Holdings Ltd		629
	1,719,936	*,e	Lonrho plc		257
	23,516		LS Cable Ltd		2,037
	19,425		LS Industrial Systems Co Ltd		1,212
	78,142		LSI Industries, Inc		527
	134,000	*	Luoyang Glass Co Ltd		24
	61,039	*	Lydall, Inc		860
	11,660		Mabuchi Motor Co Ltd		533
	174,021		MACA Ltd		380
	1,804,075		Macmahon Holdings Ltd		512
	205,000	e	Maeda Corp		975
	214,000		Maeda Road Construction Co Ltd		2,792
	156,247		Maire Tecnimont S.p.A.		133
	128,748	e	Makino Milling Machine Co Ltd		579
	64,411	*,e	Makita Corp		2,493
	489,749		Malaysia Marine and Heavy Engineering Sdn BHD		760
	2,224,300		Malaysian Resources Corp BHD		1,160
	96,771		MAN AG.		8,876
	15,414		Manitou BF S.A.		244
	182,824	e	Manitowoc Co, Inc		2,439
	250,000		Marcopolo S.A.		1,461
	4,180,636	e	Marubeni Corp		26,578
	2,217,207		Masco Corp		33,369
	200,608	*,e	Mastec, Inc		3,952
	44,000		Max Co Ltd		517
	99,965	*	MAX India Ltd		424
	653,893		Meggitt plc		4,173
	236,000		Meidensha Corp		814
	21,000	*,e	Meiwa Corp		96
	1,787,132		Melrose plc		7,003
	5,009,000	e	Metallurgical Corp of China Ltd		978
	59,921		Metka S.A.		551
	54,877		Met-Pro Corp		491
	503,666	e	Metso Oyj		18,042
	59,864	*,e	Meyer Burger Technology AG.		794
	45,414	*,e	Michael Baker Corp		1,084
	70,003		Micron Machinery Co Ltd		1,749
	72,472	*	Middleby Corp		8,381
	68,766		Miller Industries, Inc		1,104
	333,100		Mills Estruturas e Servicos de		4,814
	1,352,000	e	Minebea Co Ltd		4,554
	131,500		Miraito Holdings Corp		1,060
	461,800		Mirle Automation Corp		319
	102,400	e	MISUMI Group, Inc		2,539
	2,445,699	e	Mitsubishi Corp		44,299
	1,545,190		Mitsubishi Electric Corp		11,389
	3,568,800	e	Mitsubishi Heavy Industries Ltd		15,434

29

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	109,700		Mitsuboshi Belting Co Ltd	$	640
	3,527,397	e	Mitsui & Co Ltd		49,489
	2,411,000	e	Mitsui Engineering & Shipbuilding Co Ltd		2,775
	703,000	e	Mitsui Matsushima Co Ltd		989
	31,600		Miura Co Ltd		764
	4,019,274		MMC Corp BHD		3,598
	1,314,521	e	Monadelphous Group Ltd		26,736
	39,300	*	MonotaRO Co Ltd		1,076
	169,885	*	Moog, Inc (Class A)		6,434
	831,411		Morgan Crucible Co plc		3,556
	70,334		Morgan Sindall plc		758
	280,000	e	Mori Seiki Co Ltd		1,782
	175,770	e	Mota Engil SGPS S.A.		277
	203,993	*,e	MRC Global, Inc		5,016
	118,084		MSC Industrial Direct Co (Class A)		7,966
	82,640		MTU Aero Engines Holding AG.		6,608
	726,166		Mudajaya Group BHD		645
	3,356		Muehlbauer Holding AG. & Co KGaA		96
	158,182		Mueller Industries, Inc		7,193
	689,872		Mueller Water Products, Inc (Class A)		3,380
	591,400		Muhibbah Engineering M BHD		181
	902,504	*,e	Murray & Roberts Holdings Ltd		2,397
	73,988	*	MYR Group, Inc		1,476
	36,810	e	Nabtesco Corp		678
	217,332		Nachi-Fujikoshi Corp		628
	86,810		Nagarjuna Construction Co		77
	152,000		Nagase & Co Ltd		1,692
	86,500		Namura Shipbuilding Co Ltd		268
	16,890	e	National Presto Industries, Inc		1,231
	77,626	*,e	Navistar International Corp		1,637
	8,259		NCC AB		158
	105,606		NCC AB (B Shares)		2,015
	127,510	*	NCI Building Systems, Inc		1,279
	87,700		NEC Capital Solutions Ltd		1,210
	454,351		Neo-Neon Holdings Ltd		103
	30,704		Nexans S.A.		1,439
	218,050	e	NGK Insulators Ltd		2,609
	125,165	e	Nibe Industrier AB (Series B)		2,064
	242,179		Nichias Corp		1,294
	8,000		Nichiden Corp		221
	73,500		Nichiha Corp		903
	57,491	e	Nidec Corp		4,200
	92,000		Nippo Corp		1,066
	155,000		Nippon Carbon Co Ltd		284
	77,000		Nippon Densetsu Kogyo Co Ltd		746
	128,000		Nippon Koei Co Ltd		457
	256,000		Nippon Road Co Ltd		907
	93,730	e	Nippon Sharyo Ltd		329
	1,210,000	e	Nippon Sheet Glass Co Ltd		851
	64,800	e	Nippon Signal Co Ltd		400
	65,000		Nippon Steel Trading Co Ltd		161
	223,889	e	Nippon Thompson Co Ltd		756

30

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	859,000		Nishimatsu Construction Co Ltd	$	1,316
	18,000		Nishio Rent All Co Ltd		204
	156,021	m	Nisshin Steel Co Ltd		165
	192,000	e	Nisshinbo Industries, Inc		1,264
	63,000	e	Nissin Electric Co Ltd		374
	24,300		Nitta Corp		385
	246,000	*	Nitto Boseki Co Ltd		831
	36,300		Nitto Kogyo Corp		560
	13,973	e	Nitto Kohki Co Ltd		330
	24,460		NK Co Ltd		98
	31,000	e	NKT Holding AS		1,080
	59,178	*,e	NN, Inc		502
	2,217,122		Noble Group Ltd		2,380
	51,800	*	Nordex AG.		211
	247,838		Nordson Corp		14,528
	302,919		Noritake Co Ltd		760
	37,200		Noritz Corp		656
	48,824		NORMA Group		1,318
	34,352	*	Nortek, Inc		1,880
	640,757		Northrop Grumman Corp		42,565
	40,455	*	Northwest Pipe Co		997
	256,335		NRW Holdings Ltd		542
	833,482	e	NSK Ltd		4,841
	512,075	e	NTN Corp		1,030
	2,475,028		NWS Holdings Ltd		3,967
	27,738		Obara Corp		337
	615,809	e	Obayashi Corp		2,806
	102,391		Obrascon Huarte Lain S.A.		2,365
	648,358		OC Oerlikon Corp AG.		6,242
	10,093		OHB AG.		191
	132,300		Oiles Corp		2,748
	281,641	e	Okuma Holdings, Inc		1,662
	249,000		Okumura Corp		818
	6,089	*,e	Omega Flex, Inc		65
	13,600		Onoken Co Ltd		108
	160,824		Orascom Construction Industries		7,553
	216,835	*,e	Orbital Sciences Corp		3,157
	46,000		Organo Corp		283
	101,072	*,e	Orion Marine Group, Inc		751
	155,119		Orkla ASA		1,182
	82,184		Ormat Industries		396
	112,600		OSG Corp		1,564
	206,409	*	Oshkosh Truck Corp		5,662
	1,374,000	e	Otto Marine Ltd		99
	124,827	e	Outotec Oyj		5,944
	2,570,715	*	Owens Corning, Inc		86,017
	938,709		Paccar, Inc		37,572
	20,679		Palfinger AG.		440
	485,816		Pall Corp		30,844
	4,631,000		Pan-United Corp Ltd		2,504
	1,490,540		Parker Hannifin Corp		124,580
	9,428	*	Patrick Industries, Inc		146

31

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	237,887		Peab AB (Series B)	$	1,114
	296,787	e	Pentair, Inc		13,210
	340,500	e	Penta-Ocean Construction Co Ltd		822
	124,298	e	Perini Corp		1,422
	22,505		Pfeiffer Vacuum Technology AG.		2,407
	49,388	*,e	Pgt, Inc		162
	107,000		Phihong Technology Co Ltd		95
	64,815	*	Pike Electric Corp		515
	15,495	*	Pinguely-Haulotte		113
	603,843	*	Pipavav Shipyard Ltd		896
	36,563		Pkc Group Oyj		661
	4,743		Plasson		121
	90,597	*,e	PMFG, Inc		733
	3,758,804		Polimex Mostostal S.A.		966
	112,300		Polyplex PCL		51
	334,739	*,e	Polypore International, Inc		11,833
	13,910		Ponsse Oy		120
	35,993	*	Powell Industries, Inc		1,392
	215,931		Praj Industries Ltd		196
	1,060,949		Precision Castparts Corp		173,295
	11,288		Preformed Line Products Co		613
	198,260	e	Primoris Services Corp		2,587
	17,921	*,e	Proto Labs, Inc		606
	72,371		Prysmian S.p.A.		1,294
	6,215,000		PT AKR Corporindo Tbk		2,747
	564,500		PT Hexindo Adiperkasa Tbk		488
	7,888,000		PT Pembangunan Perumahan Tbk		599
	9,054,500		PT Surya Semesta Internusa Tbk		1,244
	2,379,264		PT United Tractors Tbk		5,123
	7,843,500		PT Wijaya Karya		989
	751,670		Punj Lloyd Ltd		776
	1,641,194		QinetiQ plc		5,030
	131,492	e	Quanex Building Products Corp		2,477
	891,644	*	Quanta Services, Inc		22,024
	3,656		R Stahl AG.		127
	148,556		Ramirent Oyj		1,196
	460,100		Randon Participacoes S.A.		2,671
	4,546		Rational AG.		1,140
	310,464		Raubex Group Ltd		569
	131,168		Raven Industries, Inc		3,860
	1,091,314		Raytheon Co		62,380
	78,984	*	RBC Bearings, Inc		3,799
	826,420		Rechi Precision Co Ltd		637
	226,716		Regal-Beloit Corp		15,979
	222,071	e	Reunert Ltd		1,841
	1,060,623		Rexel S.A.		21,342
	131,147	*,e	Rexnord Corp		2,389
	331,547		Rheinmetall AG.		15,486
	304,365		Rich Development Co Ltd		152
	3,762		Rieter Holding AG.		642
	214,541		Robbins & Myers, Inc		12,787
	738,687		Rockwell Automation, Inc		51,375

32

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	222,943		Rockwell Collins, Inc	$	11,959
	11,480		Rockwool International AS (B Shares)		1,095
	3,146,878		Rolls-Royce Group plc		42,929
	1,423,411		Roper Industries, Inc		156,418
	4,235		Rosenbauer International AG.		216
	331,000		Rotary Engineering Ltd		117
	128,014		Rotork plc		4,687
	195,000		Run Long Construction Co Ltd		256
	115,988	*,e	Rush Enterprises, Inc (Class A)		2,234
	161,233	e	Russel Metals, Inc		4,513
	298,000	e	Ryobi Ltd		639
	18,470		S&T Holdings Co Ltd		173
	154,050		Saab AB (Class B)		2,960
	193,944		Safran S.A.		6,976
	32,013		Saft Groupe S.A.		741
	533,199		Salfacorp S.A.		1,269
	178,405		Samsung Corp		10,524
	81,546		Samsung Engineering Co Ltd		13,992
	356,076		Samsung Heavy Industries Co Ltd		11,964
	47,621		Samsung Techwin Co Ltd		2,737
	405,340		San Miguel Corp		1,072
	328,000		San Shing Fastech Corp		495
	944,556		Sandvik AB		12,847
	134,000		Sanki Engineering Co Ltd		626
	331,000		Sankyo-Tateyama Holdings, Inc		585
	627,000		Sanwa Shutter Corp		2,463
	1,765,000	e	Sany Heavy Equipment International		956
	97,000		Sanyo Denki Co Ltd		618
	165,000	e	Sasebo Heavy Industries Co Ltd		148
	85,410		Sauer-Danfoss, Inc		3,434
	158,330		Scania AB (B Shares)		2,911
	10,642		Schindler Holding AG.		1,310
	7,069		Schindler Holding AG. (Reg)		873
	41,890		Schneider Electric Infrastructure Ltd		74
	521,041		Schneider Electric S.A.		30,805
	31,839		Schouw & Co		713
	1,730		Schweiter Technologies AG.		828
	1,642	*	Seaboard Corp		3,711
	39,540		SeaCube Container Leasing Ltd		741
	243,969		Sedgman Ltd		287
	80,000		Seika Corp		236
	134,000		Sekisui Jushi Corp		1,399
	2,682,924		SembCorp Industries Ltd		12,325
	1,938,273	e	SembCorp Marine Ltd		7,796
	15,581		Semperit AG. Holding		609
	1,002,133		Senior plc		3,309
	69,881	*	Sensata Technologies Holding BV		2,080
	157,019		Severfield-Rowen plc		363
	47,673	e	SGL Carbon AG.		1,912
	385,308	*	SGSB Group Co Ltd		153
	144,200	*	Shanghai Automation Instrumentation Co Ltd		67
	754,880		Shanghai Diesel Engine Co Ltd		423

33

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	7,890,000	e	Shanghai Electric Group Co Ltd	$	2,792
	746,600	*	Shanghai Erfangji Co Ltd		275
	605,800		Shanghai Highly Group Co Ltd		292
	1,812,400		Shanghai Industrial Holdings Ltd		5,362
	218,200	*	Shanghai Lingyun Industries Development Co Ltd		108
	131,800		Shanghai Material Trading Co Ltd		67
	426,020		Shanghai Mechanical and Electrical Industry Co Ltd		441
	1,414,000		Shanghai Prime Machinery Co Ltd		187
	438,400		Shanghai Waigaoqiao Free Trade Zone Development Co Ltd		299
	161,324	*	Shaw Group, Inc		7,037
	342,823		ShenMao Technology, Inc		429
	645,000		Shihlin Electric & Engineering Corp		765
	256,179		Shikun & Binui Ltd		398
	32,800	e	Shima Seiki Manufacturing Ltd		471
	489,933	e	Shimizu Corp		1,648
	184,000		Shin Zu Shing Co Ltd		664
	124,000	e	Shinko Electric Co Ltd		233
	513,590		Shinmaywa Industries Ltd		2,623
	65,000		Shinsho Corp		121
	25,500		SHO-BOND Holdings Co Ltd		890
	560,800		Siam Future Development PCL		145
	800,432		Siemens AG.		80,060
	54,647		Siemens India Ltd		733
	6,307	e	SIFCO Industries, Inc		115
	817,853		SIG plc		1,311
	72,669		Silitech Technology Corp		141
	6,513,571		Sime Darby BHD		20,870
	147,133	e	Simpson Manufacturing Co, Inc		4,211
	1,834,000	e	Singamas Container Holdings Ltd		447
	2,068,916		Singapore Technologies Engineering Ltd		5,953
	2,246,000		Sino Thai Engineering & Construction PCL		1,452
	421,507		Sintex Industries Ltd		531
	61,800		Sintokogio Ltd		424
	40,453		SK Corp		5,607
	163,510		SK Networks Co Ltd		1,499
	64,384		Skanska AB (B Shares)		1,044
	1,824,453		SKF AB (B Shares)		39,426
	6,197		SKF India Ltd		78
	400,505		SM Investments Corp		7,005
	21,249	e	SMC Corp		3,420
	2,991,322		Smiths Group plc		50,249
	402,062		Snap-On, Inc		28,896
	158,274		SNC-Lavalin Group, Inc		6,110
	522,016		SOCAM Development Ltd		496
	142,700		Sodick Co Ltd		604
	6,092,886	e	Sojitz Holdings Corp		7,877
	10,995		Solar Holdings AS (B Shares)		605
	1,107,389	e	Sonae SPGS S.A.		736
	753,938		Speedy Hire plc		357
	108,440		Spirax-Sarco Engineering plc		3,668
	440,080	*	Spirit Aerosystems Holdings, Inc (Class A)		9,774

34

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	414,085		SPX Corp	$	27,085
	25,990	*	Ssangyong Engineering & Construction Co Ltd		97
	64,025		Standex International Corp		2,846
	798,369		Stanley Works		60,876
	76,723		Stefanutti Stocks Holdings Ltd		97
	102,033	*	Sterling Construction Co, Inc		1,018
	37,143	e	Strabag SE		900
	32,049		STX Corp Co Ltd		236
	99,430		STX Engine Co Ltd		786
	2,356,000	e	STX OSV Holdings Ltd		3,104
	168,750		STX Shipbuilding Co Ltd		1,342
	5,595		Sulzer AG.		817
	239,000	e	Sumikin Bussan Corp		594
	2,511,368	e	Sumitomo Corp		33,784
	1,395,753		Sumitomo Electric Industries Ltd		14,761
	813,628		Sumitomo Heavy Industries Ltd		2,774
	43,000		Sumitomo Precision Products Co Ltd		177
	75,050		Sun Hydraulics Corp		1,994
	4,620,000	*	Sun Innovation Holdings Ltd		46
	28,990	*	Sung Jin Geotec Co Ltd		357
	13,371		Sung Kwang Bend Co Ltd		314
	373,000		Sunonwealth Electric Machine Industry Co Ltd		233
	148,000		Sunspring Metal Corp		142
	145,668	e	Superior Plus Corp		1,348
	648,661	*	Suzlon Energy Ltd		218
	329,000	e	SWCC Showa Holdings Co Ltd		256
	605,228		Swisslog Holding AG.		650
	67,512	e	Sypris Solutions, Inc		482
	1,350,370		Ta Ya Electric Wire & Cable		339
	143,000		Tadano Ltd		1,083
	10,658	*	Taewoong Co Ltd		210
	92,400		Taeyoung Engineering & Construction		463
	88,130	*	Taihan Electric Wire Co Ltd		130
	83,000		Taihei Dengyo Kaisha Ltd		563
	69,000		Taihei Kogyo Co Ltd		265
	106,900		Taikisha Ltd		2,241
	883,166	e	Taisei Corp		2,531
	1,051,872		Taiwan Glass Industrial Corp		1,063
	101,000	e,m	Takaoka Electric Manufacturing Co Ltd		170
	145,929	e	Takara Standard Co Ltd		1,153
	137,800		Takasago Thermal Engineering Co Ltd		1,114
	90,000		Takuma Co Ltd		458
	105,939	e	TAL International Group, Inc		3,600
	206,029	*	Taser International, Inc		1,242
	541,000	e	Tat Hong Holdings Ltd		586
	51,000	e	Tatsuta Electric Wire and Cable Co Ltd		456
	2,615,833		Teco Electric and Machinery Co Ltd		1,805
	321,398	*	Teledyne Technologies, Inc		20,373
	111,307		Tennant Co		4,766
	365,240	*	Terex Corp		8,247
	44,203	e	Textainer Group Holdings Ltd		1,350
	4,280,125		Textron, Inc		112,011

35

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	202,141	e	Thales S.A.	$	6,939
	22,707		Thermax Ltd		241
	53,646	*,e	Thermon Group Holdings		1,341
	126,893		THK Co Ltd		1,939
	1,360,000	*	Tianjin Development Hldgs		616
	490,939		Timken Co		18,243
	154,342	e	Titan International, Inc		2,726
	61,595	*,e	Titan Machinery, Inc		1,249
	22,703	*	TK Corp		610
	246,000		Toa Corp/Tokyo		394
	17,900		Tocalo Co Ltd		274
	640,000		Toda Corp		1,924
	70,000	e	Toenec Corp		390
	148,300	e	Tokai Corp		648
	57,000		Tokyo Energy & Systems, Inc		281
	96,060		Tokyu Construction Co Ltd		179
	205,978		Tong-Tai Machine & Tool Co Ltd		176
	193,625		Topco Technologies Corp		410
	23,000		Torishima Pump Manufacturing Co Ltd		164
	313,158		Toro Co		12,457
	100,342		Toromont Industries Ltd		2,131
	461,964		Toshiba Machine Co Ltd		1,783
	54,000		Toshiba Plant Systems & Services Corp		718
	54,602		Totetsu Kogyo Co Ltd		694
	105,297	e	Toto Ltd		773
	76,000	e	Toyo Construction Co Ltd		220
	51,000	e	Toyo Electric Manufacturing Co Ltd		158
	498,957		Toyo Engineering Corp		2,238
	13,800	e	Toyo Tanso Co Ltd		329
	615,601	e	Toyota Tsusho Corp		13,150
	777,000		Tradewinds Corp BHD		258
	217,766		Trakya Cam Sanayi AS		246
	209,465	*	TransDigm Group, Inc		29,717
	381,676	e	Travis Perkins plc		6,433
	489,965		Trelleborg AB (B Shares)		5,519
	39,981		Trevi Finanziaria S.p.A.		258
	62,706	*,e	Trex Co, Inc		2,140
	188,640	*	Trimas Corp		4,548
	183,928		Trinity Industries, Inc		5,512
	132,044		Triumph Group, Inc		8,257
	22,831		Triveni Turbine Ltd		20
	42,362		Trusco Nakayama Corp		772
	185,000	e	Tsubakimoto Chain Co		1,069
	70,000	e	Tsugami Corp		431
	52,000		Tsukishima Kikai Co Ltd		451
	692,000	e	Tuan Sing Holdings Ltd		171
	514,483		Turk Sise ve Cam Fabrikalari AS		714
	69,190		Turk Traktor ve Ziraat Makineleri AS		1,484
	31,876	e	Twin Disc, Inc		571
	95,519		Ultra Electronics Holdings		2,381
	11,700		Union Tool Co		186
	256,000	e	United Engineers Ltd		518

36

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	539,898	e	United Group Ltd	$	5,841
	404,000		United Integrated Services Co Ltd		342
	135,749	*	United Rentals, Inc		4,440
	2,309,253		United Technologies Corp		180,791
	108,151	e	Universal Forest Products, Inc		4,493
	86,127	e	Uponor Oyj		907
	407,472		URS Corp		14,388
	338,830	*,e	USG Corp		7,437
	2,237,385		Ushio, Inc		26,837
	9,104,000	*	UURG Corp Ltd		48
	16,180	e	Vacon plc		836
	309,937		Vallourec		13,095
	139,050		Valmont Industries, Inc		18,285
	265,242	*,e	Vestas Wind Systems AS		1,882
	80,843		Vicor Corp		539
	952,844		Vinci S.A.		40,542
	3,080,000	*	Vitar International Holdings Ltd		138
	95,808	e	Volex plc		277
	136,975		Voltas Ltd		324
	1,155,097		Volvo AB (B Shares)		16,228
	91,793	*,e	Von Roll Holding AG.		214
	7,555		Vossloh AG.		697
	218,165		W.W. Grainger, Inc		45,460
	237,788	*,e	Wabash National Corp		1,695
	579,536	*	WABCO Holdings, Inc		33,422
	54,486		Wacker Construction Equipment AG.		770
	280,300		Wafangdian Bearing Co Ltd		177
	47,338	e	Wajax Income Fund		2,137
	4,046,150		Walsin Lihwa Corp		1,409
	1,448		Walter Meier AG.		332
	28,624	e	Wartsila Oyj (B Shares)		993
	108,902	e	Watsco, Inc		8,254
	124,376	e	Watts Water Technologies, Inc (Class A)		4,705
	355,000		Ways Technical Corp Ltd		934
	1,238,000		WCT Berhad		1,092
	248,880		Wei Mon Industry Co Ltd		132
	838,800	e	Weichai Power Co Ltd		2,555
	42,433	e	Weir Group plc		1,215
	198,520		Well Shin Technology Co Ltd		276
	124,605	*	WESCO International, Inc		7,127
	193,296		Westinghouse Air Brake Technologies Corp		15,520
	63,705	*,e	Westport Innovations, Inc		1,778
	5,641,541	e	Wienerberger AG.		43,758
	12,926	*,e	Willis Lease Finance Corp		160
	165,768		Wilson Bayly Holmes-Ovcon Ltd		2,744
	2,363,168		Wolseley plc		101,088
	270,547		Woodward Governor Co		9,193
	26,127		Wooree ETI Co Ltd		118
	30,493	e	XP Power Ltd		493
	299,570		Xylem, Inc		7,534
	36,000		Yahagi Construction Co Ltd		146
	71,400	e	Yamazen Corp		455

37

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	2,651,370	e	Yangzijiang Shipbuilding	$	2,105
	117,689		Yazicilar Holding AS		920
	160,240	e	YIT Oyj		3,082
	66,000		Yokogawa Bridge Holdings Corp		482
	25,935		Young Poong Precision Corp		297
	1,828,000		Yuanda China Holdings Ltd		166
	591,000	e	Yuasa Trading Co Ltd		1,029
	781,000		Yungtay Engineering Co Ltd		1,610
	53,000		Yurtec Corp		175
	12,100		Yushin Precision Equipment Co Ltd		215
	59,724	e	Zardoya Otis S.A.		703
	12,160		Zehnder Group AG.		722
	602,000	e	Zhuzhou CSR Times Electric Co Ltd		1,540
	54,437		Zodiac S.A.		5,315
	39,309		Zumtobel AG.		425
			TOTAL CAPITAL GOODS		8,051,814
COMMERCIAL & PROFESSIONAL SERVICES - 1.2%
	57,868		Aangpanneforeningen AB (B Shares)		1,297
	222,808		ABM Industries, Inc		4,218
	250,236	*	Acacia Research (Acacia Technologies)		6,859
	460,118	*	ACCO Brands Corp		2,986
	63,973		Acorn Energy, Inc		571
	29,793		Adcorp Holdings Ltd		100
	1,170,662		Adecco S.A.		55,880
	94,170		Administaff, Inc		2,376
	175,016	*,e	Advisory Board Co		8,371
	64,300		Aeon Delight Co Ltd		1,416
	941,146	e	Aggreko plc		35,232
	14,124		Akka Technologies S.A.		407
	363,014		ALS Ltd		3,218
	151,425		American Banknote S.A.		2,835
	129,969	e	American Ecology Corp		2,805
	160,109	*	American Reprographics Co		684
	16,650,000	*	Asia Energy Logistics Group Ltd		242
	60,338	*,e	Asset Acceptance Capital Corp		450
	27,388		Assystem		496
	37,823	e	Asta Funding, Inc		355
	39,557	*	AT Cross Co		394
	239,855		Atkins WS plc		2,825
	127,244		Avery Dennison Corp		4,049
	439,924		Babcock International Group		6,596
	44,215	e	Barrett Business Services, Inc		1,198
	13,603	e	Bertrandt AG.		1,006
	169,350	e	BFI Canada Ltd		3,488
	100,480		Bilfinger Berger AG.		8,896
	66,100	e	Black Diamond Group Ltd		1,507
	296,699		Blue Label Telecoms Ltd		230
	1,836,112		Brambles Ltd		13,305
	232,328		Brink’s Co		5,969
	32,835		Brunel International		1,435
	44,050		Bureau Veritas S.A.		4,522

38

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	12,237		BWT AG.	$	251
	345,682	e	Cabcharge Australia Ltd		1,954
	161,195		Cape plc		625
	672,809		Capita Group plc		8,426
	98,951	*	Casella Waste Systems, Inc (Class A)		424
	133,728	*,e	CBIZ, Inc		805
	49,105	e	CDI Corp		836
	50,187	e	Ceco Environmental Corp		490
	201,923	*,e	Cenveo, Inc		462
	11,302		Cewe Color Holding AG.		450
	3,121,000	e	China Everbright International Ltd		1,642
	264,704		Cintas Corp		10,972
	128,720	*	Clean Harbors, Inc		6,288
	138,000		Cleanaway Co Ltd		1,008
	2,271	e	Compx International, Inc		34
	46,209	*,e	Consolidated Graphics, Inc		1,206
	127,900		Contax Participacoes S.A.		1,205
	494,488	*,e	Coolbrands International, Inc		682
	412,050	*	Copart, Inc		11,426
	184,896		Corporate Executive Board Co		9,916
	417,041		Corrections Corp of America		13,950
	43,056	e	Courier Corp		526
	252,428		Covanta Holding Corp		4,332
	40,366	*	CRA International, Inc		698
	737,102	e	Dai Nippon Printing Co Ltd		5,140
	46,000		Daiseki Co Ltd		713
	352,537		Davis Service Group plc		3,109
	240,784		De La Rue plc		3,941
	188,642		Deluxe Corp		5,765
	114,315		Derichebourg		361
	115,331	*,e	Dolan Media Co		620
	583,782	*	Downer EDI Ltd		2,161
	113,606		Dun & Bradstreet Corp		9,045
	55,698		Duskin Co Ltd		1,120
	2,775,000	*	Eastern Media International Corp		408
	3,440,120		Edenred		96,598
	81,860	*	Encore Capital Group, Inc		2,313
	555,970	*	EnergySolutions, Inc		1,518
	113,158	*,e	EnerNOC, Inc		1,469
	93,888		Ennis, Inc		1,541
	434,700		Equifax, Inc		20,248
	2,066,675		Experian Group Ltd		34,412
	75,336	*	Exponent, Inc		4,301
	1,158,000	*,e,m	Fook Woo Group Holdings Ltd		102
	56,506	*	Franklin Covey Co		678
	151,281	*	FTI Consulting, Inc		4,036
	15,463,000	*	Fung Choi Media Group Ltd		1,638
	75,738		G & K Services, Inc (Class A)		2,371
	33,485		Gategroup Holding AG.		822
	36,400		Genivar Income Fund		836
	229,935		Geo Group, Inc		6,362
	9,568	e	GL Events		184

39

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	53,352	*,e	GP Strategies Corp	$	1,031
	1,177,423		Group 4 Securicor plc		5,057
	60,817		Gunnebo AB		268
	1,857,256		Hays plc		2,319
	247,183		Healthcare Services Group		5,653
	136,427		Heidrick & Struggles International, Inc		1,738
	25,857	*,e	Heritage-Crystal Clean, Inc		513
	208,620		Herman Miller, Inc		4,056
	104,815	*,e	Hill International, Inc		457
	162,468	e	HNI Corp		4,145
	874,660		Homeserve plc		2,970
	123,019	*	Hudson Highland Group, Inc		549
	93,271	*,e	Huron Consulting Group, Inc		3,248
	80,335	*	ICF International, Inc		1,615
	547,716	*,e	ICO Global Communications Holdings Ltd		619
	194,103	*	IHS, Inc (Class A)		18,896
	107,322	*,e	Innerworkings, Inc		1,397
	208,730	e	Interface, Inc		2,757
	62,560	e	Intersections, Inc		659
	152,125		Intertek Group plc		6,744
	220,737		Intrum Justitia AB		3,226
	106,080	*	Ipek Matbacilik Sanayi Ve Ticaret AS		242
	392,732		Iron Mountain, Inc		13,396
	504,656		ITE Group plc		1,681
	34,933	*	KAR Auction Services, Inc		690
	96,899	e	Kelly Services, Inc (Class A)		1,221
	24,370		KEPCO Plant Service & Engineering Co Ltd		1,105
	117,942	*	Kforce, Inc		1,391
	777,800		K-Green Trust		650
	130,193		Kimball International, Inc (Class B)		1,591
	209,084	e	Knoll, Inc		2,917
	203,200	e	Kokuyo Co Ltd		1,648
	216,737	*	Korn/Ferry International		3,323
	158,000		Kyodo Printing Co Ltd		368
	519,000		L&K Engineering Co Ltd		504
	107,434		Loomis AB		1,527
	183,390		Manpower, Inc		6,749
	16,162		Matsuda Sangyo Co Ltd		230
	88,405		McGrath RentCorp		2,306
	122,099		McMillan Shakespeare Ltd		1,539
	180,533		Mears Group plc		825
	41,900		Meitec Corp		952
	141,129	*,e	Metalico, Inc		361
	391,101		Michael Page International plc		2,254
	123,543		Mine Safety Appliances Co		4,604
	608,332	e	Mineral Resources Ltd		4,816
	56,290	*,e	Mistras Group, Inc		1,306
	664,947		Mitie Group		3,131
	36,472		Mitsubishi Pencil Co Ltd		688
	6,900	e	Mitsubishi Research Institute, Inc		147
	136,681	*,e	Mobile Mini, Inc		2,284
	94,760	e	Morneau Sobeco Income Fund		1,219

40

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	138,583		Moshi Moshi Hotline, Inc	$	2,025
	48,989	e	Multi-Color Corp		1,135
	60,600		Multiplus S.A.		1,211
	188,252	*	Navigant Consulting, Inc		2,080
	89,313		Newalta, Inc		1,313
	498,111	*	Nielsen Holdings NV		14,933
	11,000		Nihon M&A Center, Inc		320
	6,200		Nippon Kanzai Co Ltd		122
	40,460	e	Nissha Printing Co Ltd		377
	29,302	e	NL Industries, Inc		337
	260,563	*,e	Odyssey Marine Exploration, Inc		823
	162,000		Okamura Corp		1,247
	155,015	*	On Assignment, Inc		3,088
	39,668		Oyo Corp		477
	189,700		Park24 Co Ltd		3,100
	224		Pasona Group, Inc		146
	43,800		PayPoint plc		506
	20,200	*	Performant Financial Corp		216
	224		Pilot Corp		420
	421,593	e	Pitney Bowes, Inc		5,826
	111,011	*,e	Portfolio Recovery Associates, Inc		11,593
	49,138	e	Poyry Oyj		215
	131,251		Proffice AB		460
	231,619	e	Programmed Maintenance Services Ltd		518
	87,300		PRONEXUS, Inc		530
	359,590		Prosegur Cia de Seguridad S.A.		1,647
	135,640	e	Quad		2,300
	583,981	e	R.R. Donnelley & Sons Co		6,190
	96,592		Randstad Holdings NV		3,211
	1,631,672		Regus plc		2,690
	2,528,130		Rentokil Initial plc		3,329
	707,718		Republic Services, Inc		19,469
	175,642		Resources Connection, Inc		2,303
	119,612	e	Ritchie Bros Auctioneers, Inc		2,301
	372,291		Robert Half International, Inc		9,914
	305,449	e	Rollins, Inc		7,144
	361,006		RPS Group plc		1,452
	188,884	*	RPX Corp		2,117
	24,138		S1 Corp (Korea)		1,481
	284,226	e	SAI Global Ltd (New)		1,246
	24,952	e	Sato Corp		375
	46,500	e	Schawk, Inc (Class A)		607
	4,345		Seche Environnement S.A.		159
	198,758		Secom Co Ltd		10,360
	251,322		Securitas AB (B Shares)		1,888
	634,026	e	Seek Ltd		4,472
	442,649		Serco Group plc		4,151
	6,827		SGS S.A.		14,039
	549,263		Shanks Group plc		735
	17,800		Shenzhen Dongjiang Environmental Co Ltd		70
	424,363		Skilled Group Ltd		1,134
	98,329		Societe BIC S.A.		11,876

41

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	193,000		Sohgo Security Services Co Ltd	$	2,700
	173,240		Sporton International, Inc		388
	77,088	*,e	Standard Parking Corp		1,729
	83,704	e	Stantec, Inc		2,852
	372,430	e	Steelcase, Inc (Class A)		3,668
	419,713	*	Stericycle, Inc		37,993
	134,838		Sthree plc		621
	268,453	*	SYKES Enterprises, Inc		3,608
	207,000		Taiwan Secom Co Ltd		455
	498,000		Taiwan-Sogo Shinkong Security Corp		582
	70,481	*	Team, Inc		2,245
	69,969		Teleperformance		2,005
	66,500	e	Temp Holdings Co Ltd		803
	289,555	*	Tetra Tech, Inc		7,604
	486,000		Tianjin Capital Environmental Protection Group Co Ltd		105
	64,263	*	TMS International Corp		636
	10,300	e	Tokyu Community Corp		377
	255,527		Tomra Systems ASA		2,249
	147,000		Toppan Forms Co Ltd		1,419
	1,957,944	e	Toppan Printing Co Ltd		11,356
	217,274		Towers Watson & Co		11,526
	134,430	e	Transcontinental, Inc		1,142
	629,877		Transfield Services Ltd		1,135
	1,408,477	*	Transpacific Industries Group Ltd		1,295
	67,925	*,e	TRC Cos, Inc		511
	254,336	*	TrueBlue, Inc		3,998
	5,492,923		Tyco International Ltd		309,032
	156,000	e	Uchida Yoko Co Ltd		445
	52,525		Unifirst Corp		3,508
	169,252		United Stationers, Inc		4,404
	83,406		USG People NV		631
	1,189,065	*,e	Verisk Analytics, Inc		56,610
	76,833		Viad Corp		1,603
	22,210		VSE Corp		544
	23,737	*,e	WageWorks, Inc		414
	476,842		Waste Connections, Inc		14,424
	1,056,718		Waste Management, Inc		33,901
	7,100	e	Weathernews, Inc		273
	960,000		WHK Group Ltd		956
	544,519		Yem Chio Co Ltd		438
			TOTAL COMMERCIAL & PROFESSIONAL SERVICES		1,310,083
CONSUMER DURABLES & APPAREL - 1.7%
	1,492,000	e	361 Degrees International Ltd		392
	18,768		Accell Group		310
	242,740		Adidas-Salomon AG.		19,920
	86,000		Advanced International Multitech Co Ltd		131
	17,402		Agabang&Company		191
	42,342		Aksa Akrilik Kimya Sanayii		111
	1,845,735		Alok Industries Ltd		440
	151,900	e	Alpine Electronics, Inc		1,414
	1,188,940		Altek Corp		706

42

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	159,419		Amer Sports Oyj (A Shares)	$	2,078
	169,409	e	American Greetings Corp (Class A)		2,846
	3,207,000	e	Anta Sports Products Ltd		2,452
	543,767		Arcelik AS		2,896
	70,753	*	Arctic Cat, Inc		2,933
	68,600		Arezzo Industria e Comercio S.A.		1,237
	54,600		Arnest One Corp		841
	52,500	e	Aruze Corp		1,062
	844,950		Arvind Ltd		1,274
	135,000	*	Asia Optical Co, Inc		153
	282,551		Asics Corp		3,811
	424,000		Atsugi Co Ltd		488
	138,095		Avgol Industries 1953 Ltd		100
	45,150		AVY Precision Technology, Inc		76
	75,845	*,e	Bang & Olufsen AS (B Shares)		1,039
	1,397,184	*	Barratt Developments plc		3,831
	9,040		Basic House Co Ltd		126
	41,634		Bassett Furniture Industries, Inc		518
	72,290		Bata India Ltd		1,338
	709,570	*,e	Beazer Homes USA, Inc		2,519
	2,722,000	*	Beijing Properties Holdings Ltd		116
	195,097		Bellway plc		2,902
	68,312	e	Beneteau S.A.		747
	190,126	*	Berkeley Group Holdings plc		4,321
	505,842	e	Billabong International Ltd		693
	512,000	e	Billion Industrial Holdings Ltd		268
	25,660		Bjoern Borg AB		136
	72,907	e	Blyth, Inc		1,895
	57,989		Bombay Dyeing & Manufacturing Co Ltd		540
	4,618,000		Bosideng International Holdings Ltd		1,293
	261,051		Bovis Homes Group plc		2,131
	312,262		Brookfield Incorporacoes S.A.		608
	42,100	*,e	Brunello Cucinelli S.p.A		730
	379,108	e	Brunswick Corp		8,579
	559,928		Burberry Group plc		9,066
	74,780		BWG Homes ASA		163
	256,600	e	Callaway Golf Co		1,576
	77,800		Camargo Correa Desenvolvimento Imobiliario S.A.		211
	307,331	*	Carter’s, Inc		16,547
	1,715,331	*,e	Casio Computer Co Ltd		12,151
	26,014	*	Cavco Industries, Inc		1,194
	614,000		Cecep Costin New Materials Grp Ltd		238
	50,260	e	Cherokee, Inc		732
	2,296,000		Chigo Holding Ltd		50
	2,472,400	e	China Dongxiang Group Co		263
	3,848,000		China Haidian Holdings Ltd		390
	836,000		China Lilang Ltd		438
	26,100		Chofu Seisakusho Co Ltd		632
	92,836		Christian Dior S.A.		12,436
	22,600		Cia Providencia Industria e Comercio S.A.		76
	323,000	*,e	Clarion Co Ltd		513
	76,557	*,e	Clarus Corp		671

43

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	48,100		Cleanup Corp	$	330
	821,644		Coach, Inc		46,028
	43,388	e	Columbia Sportswear Co		2,343
	1,073,133		Compagnie Financiere Richemont S.A.		64,434
	1,134,700	e	Consorcio ARA, S.A. de C.V.		354
	26,900		Corona Corp		348
	654,100	*	Corp GEO S.A. de C.V. (Series B)		802
	469,193	*	CROCS, Inc		7,606
	51,784		CSS Industries, Inc		1,064
	33,066		Culp, Inc		389
	916,081		Cyrela Brazil Realty S.A.		7,863
	30,200	e	Daidoh Ltd		189
	52,347	*,e	Deckers Outdoor Corp		1,918
	156,250	*	Delclima		113
	169,565		De’Longhi S.p.A.		1,985
	23,138	*,e	Delta Apparel, Inc		319
	267,200	*,e	Desarrolladora Homex S.A. de C.V.		612
	54,590		Descente Ltd		324
	45,733		Dorel Industries, Inc (Class B)		1,588
	2,736,680	e	DR Horton, Inc		56,486
	51,049		Duni AB		427
	190,274		Eclat Textile Co Ltd		530
	1,728,011	e	Electrolux AB (Series B)		42,699
	248,000		Embry Holdings Ltd		123
	87,594	e	Ethan Allen Interiors, Inc		1,920
	529,200		Even Construtora e Incorporadora S.A.		2,039
	434,000	e	Evergreen International Holdin		84
	207,000		Ez Tec Empreendimentos e Participacoes S.A.		2,571
	2,713,980	*	Fabricato S.A.		140
	207,030		Feng TAY Enterprise Co Ltd		227
	13,800	e	Fields Corp		195
	479,943	*,e	Fifth & Pacific Cos, Inc		6,134
	11,884		Fila Korea Ltd		774
	1,178,824	*,e	Fisher & Paykel Appliances Holdings Ltd		1,167
	55,300		Fiyta Holdings Ltd		42
	18,040		Flexsteel Industries, Inc		373
	2,637		Forbo Holding AG.		1,558
	1,389,220		Formosa Taffeta Co Ltd		1,329
	110,000		Forus S.A.		543
	80,064	*	Fossil, Inc		6,781
	21,291		Foster Electric Co Ltd		327
	175,000	e	France Bed Holdings Co Ltd		376
	80,000	e	Fujitsu General Ltd		709
	92,200		Funai Electric Co Ltd		1,300
	580,000		Gafisa S.A.		1,276
	278,683	*,e	Garmin Ltd		11,632
	50,408		Genius Electronic Optical Co Ltd		416
	113,353	e	Geox S.p.A.		301
	57,286		Gerry Weber International AG.		2,370
	388,149		Giant Manufacturing Co Ltd		2,054
	63,640	*,e	G-III Apparel Group Ltd		2,285
	100,815		Gildan Activewear, Inc		3,196

44

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	319,552		Gitanjali Gems Ltd	$	2,102
	964,637	e	Glorious Sun Enterprises Ltd		278
	32,000	*,e	Goldwin, Inc		194
	470,000		Goodbaby International Holding		152
	184,900		Grendene S.A.		1,254
	207,416	e	GUD Holdings Ltd		1,761
	3,267,111	e	Guinness Peat Group plc		1,473
	1,656,000		Gunze Ltd		4,249
	1,347,000	*	Haier Electronics Group Co Ltd		1,554
	13,500		Hajime Construction Co Ltd		478
	16,140		Handsome Co Ltd		406
	403,797	*	Hanesbrands, Inc		12,873
	87,829		Hansae Co Ltd		1,150
	30,580		Hanssem Co Ltd		508
	148,508		Harman International Industries, Inc		6,855
	167,947	e	Hasbro, Inc		6,411
	1,873,500	*	Haseko Corp		1,197
	15,264		Hefei Meiling Co Ltd		6
	50,600	e	Heiwa Corp		849
	278,500		Helbor Empreendimentos S.A.		1,491
	179,588	*,e	Helen of Troy Ltd		5,716
	743,000	*	Hisense Kelon Electrical Holdings Co Ltd		137
	35,148	e	Hooker Furniture Corp		457
	406,788	*,e	Hovnanian Enterprises, Inc (Class A)		1,407
	19,744		Hugo Boss AG.		1,739
	325,188		Husqvarna AB (B Shares)		1,661
	137,150	*	Huvis Corp		1,508
	11,066	e	IC Companys AS		196
	295,757	*	Iconix Brand Group, Inc		5,395
	47,239	e	Indesit Co S.p.A.		235
	274,300	*	Inpar S.A.		162
	910,000	e	International Taifeng Holdings Ltd		233
	122,781	*,e	iRobot Corp		2,794
	153,765	e	Jakks Pacific, Inc		2,240
	61,000		Japan Vilene Co Ltd		271
	131,000		Japan Wool Textile Co Ltd		979
	2,652,803	e	Jarden Corp		140,175
	203,699	*	Jinshan Development & Construction Co Ltd		84
	213,736	e	JM AB		3,913
	78,289		Johnson Health Tech Co Ltd		201
	28,358	*	Johnson Outdoors, Inc		607
	346,423		Jones Apparel Group, Inc		4,458
	148,200	*,e	JVC KENWOOD Holdings, Inc		530
	456,091	e	KB Home		6,545
	9,000		Kinko Optical Co Ltd		13
	1,043,500		Konka Group Co Ltd		281
	104,425	*,e	K-Swiss, Inc (Class A)		358
	470,000		Kurabo Industries Ltd		769
	591,000		Kwong Fong Industries		368
	1,555		Kyungbang Ltd		143
	329,160		LAN FA Textile		107
	395,035		Lao Feng Xiang Co Ltd		673

45

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	182,764	*	La-Z-Boy, Inc	$	2,674
	588,000		Le Saunda Holdings		159
	93,112		Lealea Enterprise Co Ltd		36
	303,544	*	Leapfrog Enterprises, Inc		2,738
	405,525	e	Leggett & Platt, Inc		10,158
	661,342	e	Lennar Corp (Class A)		22,995
	154,608		LG Electronics, Inc		9,549
	22,070		LG Fashion Corp		614
	978,500	e	Li Ning Co Ltd		518
	98,179		Li Peng Enterprise Co Ltd		32
	71,811	*,e	Libbey, Inc		1,133
	37,747	e	Lifetime Brands, Inc		450
	652,000		Luthai Textile Co Ltd		577
	502,410		Luxottica Group S.p.A.		17,722
	214,198		LVMH Moet Hennessy Louis Vuitton S.A.		32,155
	78,034	*,e	M/I Homes, Inc		1,509
	83,679	*	Maidenform Brands, Inc		1,714
	7,434		Maisons France Confort		244
	569,000		Makalot Industrial Co Ltd		1,640
	537,600	e	Man Wah Holdings Ltd		292
	25,012		Marcolin S.p.A		142
	6,442	*,b	Mariella Burani S.p.A.		0	^
	48,739	e	Marine Products Corp		290
	8,300		Mars Engineering Corp		217
	2,309,533	e	Matsushita Electric Industrial Co Ltd		15,281
	536,932		Mattel, Inc		19,051
	175,758		MDC Holdings, Inc		6,768
	242,650		Merida Industry Co Ltd		889
	124,530	*,e	Meritage Homes Corp		4,736
	119,700		Merry Electronics Co Ltd		189
	835,488	*	Michael Kors Holdings Ltd		44,431
	3,120,000	*	Ming Fung Jewellery Group Ltd		148
	30,400	*	Misawa Homes Co Ltd		462
	65,000	e	Mitsui Home Co Ltd		338
	193,000		Mizuno Corp		966
	266,432	*	Mohawk Industries, Inc		21,320
	73,069		Movado Group, Inc		2,464
	720,998		MRV Engenharia e Participacoes S.A.		4,314
	29,803		Nacco Industries, Inc (Class A)		3,738
	761,222		Namco Bandai Holdings, Inc		12,897
	62,918	e	New Wave Group AB (B Shares)		198
	356,930		Newell Rubbermaid, Inc		6,814
	39,512		Nexity		1,141
	21,300	e	Nidec Copal Corp		171
	571,725		Nien Hsing Textile Co Ltd		405
	1,392,354		Nike, Inc (Class B)		132,147
	220,135	e	Nikon Corp		6,053
	206,253	*	Nobia AB		780
	21,900		Noritsu Koki Co Ltd		98
	42,821	*	NVR, Inc		36,163
	916,531		Onward Kashiyama Co Ltd		7,295
	29,362		Oriental Weavers		119

46

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	71,077		Oxford Industries, Inc	$	4,012
	1,058,637		Pacific Textile Holdings Ltd		686
	226,000		PanaHome Corp		1,316
	216,471	e	Pandora AS		2,945
	12,460,349		PDG Realty S.A.		23,480
	402,000	*,m	Peace Mark Holdings Ltd		0	^
	1,569,000	e	Peak Sport Products Co Ltd		276
	15,000		Pegas Nonwovens S.A.		367
	44,513	*,e	Perry Ellis International, Inc		982
	726,400		Persimmon plc		8,912
	720,124		Phillips-Van Heusen Corp		67,490
	363,100	*,e	Pioneer Corp		891
	10,424,857		Playmates Holdings Ltd		6,002
	328,686		Polaris Industries, Inc		26,582
	71,428	*	Poltrona Frau S.p.A.		85
	176,992	e	Pool Corp		7,359
	661,000	e	Ports Design Ltd		508
	2,909,230		Pou Chen Corp		2,966
	406,500	e	Prada S.p.A		3,020
	1,336,000	e	Prime Success International Group Ltd		1,339
	4,282,500		PT Modern Internasional Tbk		329
	2,065,947	*	Pulte Homes, Inc		32,023
	459,771	*,e	Quiksilver, Inc		1,526
	267,001		Rajesh Exports Ltd		610
	233,276		Ralph Lauren Corp		35,278
	130,103		Raymond Ltd		968
	372,243	*	Redrow plc		937
	155,700		Restoque Comercio e Confeccoes de Roupas S.A.		703
	25,368	e	RG Barry Corp		374
	7,728	e	Rinnai Corp		577
	30,800		Rodobens Negocios Imobiliarios S.A.		179
	4,575	*	Rodriguez Group		21
	26,300		Roland Corp		182
	575,980		Rossi Residencial S.A.		1,429
	1,170,000		Royale Furniture Holdings Ltd		146
	575,962		Ruentex Industries Ltd		1,345
	184,581	e	Ryland Group, Inc		5,537
	540,834		S Kumars Nationwide Ltd		198
	6,482		Sabaf S.p.A.		75
	42,644	*	Safilo Group S.p.A.		327
	116,335		Salvatore Ferragamo Italia S.p.A		2,427
	269,000		Sampo Corp		93
	1,227,000		Samson Holding Ltd		147
	5,774,600		Samsonite International		11,047
	39,476		Sangetsu Co Ltd		1,087
	30,693		Sankyo Co Ltd		1,428
	144,000		Sanyo Electric Taiwan Co Ltd		156
	125,000		Sanyo Shokai Ltd		390
	180,797	*,e	Sealy Corp		394
	29,959	e	SEB S.A.		2,077
	254,450	e	Sega Sammy Holdings, Inc		4,801
	132,000	*	Seiko Holdings Corp		359

47

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	1,412,030		Seiren Co Ltd	$	9,775
	1,983,054		Sekisui Chemical Co Ltd		15,972
	1,481,971		Sekisui House Ltd		14,712
	192,500	*	Shanghai Haixin Group Co		75
	951,625	e	Sharp Corp		2,353
	1,133,000	e	Shenzhou International Group Holdings Ltd		1,935
	76,004		Shimano, Inc		5,518
	221,000		Shinkong Textile Co Ltd		306
	174,000	*	Sitoy Group Holdings Ltd		94
	210,045	*,e	Skechers U.S.A., Inc (Class A)		4,285
	59,103	*,e	Skullcandy, Inc		813
	4,877,251	e	Skyworth Digital Holdings Ltd		2,307
	351,386	*,e	Smith & Wesson Holding Corp		3,869
	876,666		Socovesa S.A.		397
	34,341	*,e	SodaStream International Ltd		1,345
	1,268,584	*,e	Sony Corp		14,834
	29,424		SRF Ltd		125
	22,800		SRI Sports Ltd		292
	196,982	*	ST Dupont S.A.		89
	415,117	*,e	Standard-Pacific Corp		2,806
	19,000		Star Comgistic Capital Co Ltd		9
	2,616,690	*,e	Steinhoff International Holdings Ltd		8,207
	26,841	*	Steinway Musical Instruments, Inc		654
	719,500	e	Stella International Holdings Ltd		1,771
	165,022	*,e	Steven Madden Ltd		7,215
	87,295	e	Sturm Ruger & Co, Inc		4,320
	329,654	e	Sumitomo Forestry Co Ltd		2,927
	1,103,000		Sunny Optical Technology Group Co Ltd		608
	74,432		Swatch Group AG.		29,725
	202,137		Swatch Group AG. Reg		14,073
	121,000	*,e	Sxl		215
	97,000		Tainan Enterprises Co Ltd		91
	363,000		Tainan Spinning Co Ltd		176
	192,600		Taiwan Paiho Ltd		127
	20,400		Taiwan Sakura Corp		11
	94,893		Takamatsu Corp		1,705
	58,600		Tamron Co Ltd		1,789
	1,069,138	*	Tatung Co Ltd		275
	5,814,231		Taylor Woodrow plc		5,106
	1,840,000		TCL Multimedia Technology Holdings Ltd		989
	13,300		Technos S.A.		143
	3,866,617		Techtronic Industries Co		7,036
	140,100		Tecnisa S.A.		653
	235,837	*	Tempur-Pedic International, Inc		7,049
	43,161		Ten Cate NV		993
	378,000	e	Texhong Textile Group Ltd		124
	1,316,000	e	Texwinca Holdings Ltd		845
	339,856	*,e	Thomson		839
	293,261		Titan Industries Ltd		1,450
	48,508	*	TK Chemical Corp		90
	36,462	e	Tod’s S.p.A.		3,948
	6,640		Token Corp		281

48

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	687,731	*	Toll Brothers, Inc	$	22,853
	133,941	*,e	TomTom NV		604
	72,168	e	Tomy Co Ltd		402
	16,400		Touei Housing Corp		175
	1,127,676		Toyobo Co Ltd		1,339
	24,985		Trigano S.A.		295
	1,198,000		Trinity Ltd		800
	157,494	e	True Religion Apparel, Inc		3,359
	1,622,200	*	Tsann Kuen China Enterprise Co Ltd		71
	226,100		TSI Holdings Co Ltd		1,482
	17,056		TTK Prestige Ltd		1,202
	77,967	*,e	Tumi Holdings, Inc		1,835
	726,410		Tupperware Corp		38,929
	438,529	*,e	Under Armour, Inc (Class A)		24,483
	50,371	*	Unifi, Inc		646
	624,000	*	Unitika Ltd		303
	61,102	*	Universal Electronics, Inc		1,074
	591,479	*	Urbi Desarrollos Urbanos S.A. de C.V		364
	5,436		Vardhman Textiles Ltd		25
	71,864	*,e	Vera Bradley, Inc		1,714
	201,118		Vestel Beyaz Esya Sanayi ve Ticaret AS		281
	179,066	*	Vestel Elektronik Sanayi		182
	558,419		VF Corp		88,990
	996,299		Victory City International Hldgs Ltd		100
	259,205		VIP Industries Ltd		453
	148,627	e	Wacoal Holdings Corp		1,785
	202,522	*	Warnaco Group, Inc		10,511
	131,500	e	Weiqiao Textile Co		48
	2,602,000		Welling Holding Ltd		314
	31,707	e	Weyco Group, Inc		772
	427,489		Whirlpool Corp		35,444
	28,254	*	Whirlpool of India Ltd		139
	244,826	e	Wolverine World Wide, Inc		10,863
	160,780	*	Woongjin Chemical Co Ltd		73
	69,960		Woongjin Coway Co Ltd		1,936
	155,160		Wuxi Little Swan Co Ltd		128
	2,643,500	e	XTEP International Holdings		945
	34,150		Yamaha Corp		316
	171,000		YGM Trading Ltd		382
	22,000		Young Optics, Inc		65
	72,890		Youngone Corp		2,399
	10,670		Youngone Holdings Co Ltd		654
	1,312,114	e	Yue Yuen Industrial Holdings		4,400
	85,421	*,e	Zagg, Inc		729
	115,835		Zeng Hsing Industrial Co Ltd		391
	10,000	*	Zhonglu Co Ltd		7
	25,115		Zig Sheng Industrial Co Ltd		9
			TOTAL CONSUMER DURABLES & APPAREL		1,811,067
CONSUMER SERVICES - 2.0%
	239,100	*,e	7 Days Group Holdings Ltd (ADR)		2,778
	202,053		888 Holdings plc		300

49

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	99,800		Abril Educacao S.A.	$	1,679
	58,300		Accor S.A.		1,941
	3,781		Accordia Golf Co Ltd		2,427
	130,920		Advtech Ltd		90
	109,999	*,e	AFC Enterprises		2,706
	70,504	*	Ainsworth Game Technology Ltd		165
	711,000	e	Ajisen China Holdings Ltd		471
	1,906,350	e	Alsea SAB de C.V.		2,968
	255,000		Ambassador Hotel		288
	75,783	*,e	American Public Education, Inc		2,761
	189,469	e	Ameristar Casinos, Inc		3,373
	216,700		Anhanguera Educacional Participacoes S.A.		3,602
	352,404	*	Apollo Group, Inc (Class A)		10,237
	780,427	e	Aristocrat Leisure Ltd		2,162
	60,001	*,e	Ascent Media Corp (Series A)		3,241
	58,300	*,e	Atom Corp		291
	20,206		Autogrill S.p.A.		192
	235,506	*,e	Bally Technologies, Inc		11,632
	104,499		Benesse Corp		5,057
	1,436,772		Berjaya Sports Toto BHD		2,035
	106,365		BETFAIR Group Ltd		1,248
	74,070		Betsson AB (Series B)		1,971
	89,144	*,e	BJ’s Restaurants, Inc		4,043
	20,299,700	*	Bloomberry Resorts Corp		5,450
	600,626	*	Bloomin’ Brands, Inc		9,880
	45,730	*,e	Bluegreen Corp		287
	132,079		Bob Evans Farms, Inc		5,168
	203,661	*,e	Boyd Gaming Corp		1,438
	69,471	*	Bravo Brio Restaurant Group, Inc		1,011
	98,458	*,e	Bridgepoint Education, Inc		999
	829,435		Brinker International, Inc		29,279
	68,758	*,e	Buffalo Wild Wings, Inc		5,895
	137,061	*,e	Caesars Entertainment Corp		932
	564,000	e	Cafe de Coral Holdings Ltd		1,579
	101,226	*	Capella Education Co		3,549
	260,774	*	Career Education Corp		983
	76,279	*,e	Caribou Coffee Co, Inc		1,047
	3,202,804		Carnival Corp		116,710
	1,330,544		Carnival plc		49,012
	58,921		Carriage Services, Inc		570
	59,515	*,e	Carrols Restaurant Group, Inc		343
	71,577		CBRL Group, Inc		4,804
	115,211		CEC Entertainment, Inc		3,470
	1,850,000		Central Plaza Hotel PCL		1,037
	1,514,040		Century City International		103
	207,804		Cheesecake Factory		7,429
	4,480,000		China Travel International Inv HK		806
	146,360	*,e	Chipotle Mexican Grill, Inc (Class A)		46,475
	32,756	e	Choice Hotels International, Inc		1,048
	66,106	e	Churchill Downs, Inc		4,146
	286,002	*	Chuy’s Holdings, Inc		7,013
	11,133		Cie des Alpes		208

50

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	66,425	e	City Lodge Hotels Ltd	$	734
	30,919	*	Club Mediterranee S.A.		497
	22,467	*,e	Codere S.A.		111
	259,081	*,e	Coinstar, Inc		11,653
	19,067	e	Collectors Universe		268
	75,000	e	Colowide Co Ltd		642
	3,787,335		Compass Group plc		41,866
	125,992	e	Consumers’ Waterheater Income Fund		1,100
	507,627	*,e	Corinthian Colleges, Inc		1,208
	63,279		Cox & Kings India Ltd		166
	2,888		Credu Corp		125
	464,359		Crown Ltd		4,367
	9,000	e	Daisyo Corp		116
	268,116		Darden Restaurants, Inc		14,947
	276,162	*	Del Frisco’s Restaurant Group, Inc		4,115
	512,772	*,e	Denny’s Corp		2,487
	151,458	e	DeVry, Inc		3,447
	78,208		Dignity plc		1,153
	57,790	*	DineEquity, Inc		3,236
	156,793		Domino’s Pizza UK & IRL plc		1,347
	234,644		Domino’s Pizza, Inc		8,846
	77,100		Doutor Nichires Holdings Co Ltd		967
	193,427	e	Dunkin Brands Group, Inc		5,647
	642,106	e	Echo Entertainment Group Ltd		2,539
	160,223	*,e	Education Management Corp		498
	142,747		Educomp Solutions Ltd		433
	683,877	*	Egyptian for Tourism Resorts		150
	67,227		EIH Ltd		102
	23,128		Einstein Noah Restaurant Group, Inc		409
	1,459,631		Enjoy S.A.		323
	828,792	*	Enterprise Inns plc		845
	84,800		Estacio Participacoes S.A.		1,422
	31,247	*	Euro Disney SCA		213
	63,585		Famous Brands Ltd		554
	56,757	*	Fiesta Restaurant Group, Inc		901
	348,138		First Hotel		250
	188,401	e	Flight Centre Ltd		4,576
	104,270		Formosa International Hotels Corp		1,246
	48,000		Fortuna Entertainment Group NV		196
	11,751	e	Frisch’s Restaurants, Inc		233
	94,000	e	Fuji Kyuko Co Ltd		602
	69,000	*	Fujita Kanko, Inc		234
	3,656,273	*,e	Galaxy Entertainment Group Ltd		12,148
	2,559,205		Genting BHD		7,274
	5,203,628	e	Genting International plc		5,785
	189,577	*,e	Grand Canyon Education, Inc		4,461
	40,500		Grand Korea Leisure Co Ltd		1,066
	69,254	*	Great Canadian Gaming Corp		707
	518,598		Greene King plc		5,036
	663,000		GuocoLeisure Ltd		329
	687,570		H&R Block, Inc		11,916
	9,577		Hana Tour Service, Inc		521

51

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	211,590		Hillenbrand, Inc	$	3,849
	45,700		HIS Co Ltd		1,434
	172,000		Holiday Entertainment Co Ltd		277
	49,263	*,e	Home Inns & Hotels Management, Inc (ADR)		1,222
	12,227		Hotel Leela Venture Ltd		7
	456,000		Hotel Properties Ltd		1,026
	78,524		Hotel Shilla Co Ltd		3,903
	254,050		Huangshan Tourism Development Co Ltd		303
	328,063	*	Hurtigruten Group ASA		188
	102,375	*	Hyatt Hotels Corp		4,110
	6,500	e	Ichibanya Co Ltd		206
	23,856	*,e	Ignite Restaurant Group, Inc		333
	245,919		Indian Hotels Co Ltd		314
	652,888		Intercontinental Hotels Group plc		17,145
	360,284		International Game Technology		4,716
	96,814	e	International Speedway Corp (Class A)		2,747
	599,774		Interval Leisure Group, Inc		11,354
	154,029		Intralot S.A.-Integrated Lottery Systems & Services		261
	191,803		Invocare Ltd		1,703
	74,379	*	Isle of Capri Casinos, Inc		517
	293,767	*,e	ITT Educational Services, Inc		9,468
	165,594	*	Jack in the Box, Inc		4,655
	212,258	*	Jamba, Inc		473
	448,040		Jollibee Foods Corp		1,086
	65,031	*	Jubilant Foodworks Ltd		1,688
	94,986	*,e	K12, Inc		1,919
	135,270		Kangwon Land, Inc		3,033
	15,650	e	Kappa Create Co Ltd		357
	142,900		KFC Holdings Malaysia BHD		181
	26,800	e	Kisoji Co Ltd		566
	1,638,000		Kosmopolito Hotels International Ltd		406
	205,213	*,e	Krispy Kreme Doughnuts, Inc		1,627
	108,186	*	Kroton Educacional S.A.		1,852
	4,996		Kuoni Reisen Holding		1,353
	12,400	e	Kura Corp		180
	19,500		Kyoritsu Maintenance Co Ltd		431
	2,259,876		Ladbrokes plc		6,313
	356,500	*	Landmarks BHD		108
	2,487,202		Las Vegas Sands Corp		115,332
	139,891	*	Leofoo Development Co		85
	156,652	*	Life Time Fitness, Inc		7,165
	87,215	e	Lincoln Educational Services Corp		366
	458,546	e	Lottomatica S.p.A.		10,113
	74,348	*,e	Luby’s, Inc		500
	64,939		Mac-Gray Corp		871
	539,787		Macquarie Leisure Trust Group		749
	79,109		Marcus Corp		878
	647,260		Marriott International, Inc (Class A)		25,308
	121,527	*	Marriott Vacations Worldwide Corp		4,377
	789,919		Marston’s plc		1,459
	319,400		Masterskill Education Group BHD		64
	8,700		Matsuya Foods Co Ltd		163

52

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	101,878		Matthews International Corp (Class A)	$	3,038
	3,403,225		McDonald’s Corp		312,245
	46,257		McDonald’s Holdings Co Japan Ltd		1,318
	10,258		MegaStudy Co Ltd		681
	1,068,213	e	Melco International Development		948
	385,139	*,e	Melco PBL Entertainment Macau Ltd (ADR)		5,192
	4,123,000	e	MGM China Holdings Ltd		7,082
	478,762	*	MGM Mirage		5,147
	260,391		Millennium & Copthorne Hotels plc		2,044
	8,624,200		Minor International PCL (Foreign)		4,307
	283,810	*	Mitchells & Butlers plc		1,338
	5,208		Modetour Network, Inc		118
	44,424	*	Monarch Casino & Resort, Inc		387
	107,341	*,e	Morgans Hotel Group Co		689
	35,800	e	MOS Food Services, Inc		708
	84,236	*	MTR Gaming Group, Inc		355
	147,907	*	Multimedia Games, Inc		2,327
	3,228,000	e	NagaCorp Ltd		1,809
	9,979	*,e	Nathan’s Famous, Inc		314
	32,007	e	National American University Holdings, Inc		160
	213,261	e	Navitas Ltd		929
	105,012	*	NH Hoteles S.A.		327
	14,300		Ohsho Food Service Corp		354
	83,737		OPAP S.A.		430
	17,637		Orascom Development Holding AG.		279
	46,081	e	Oriental Land Co Ltd		6,067
	3,757,442	*	Orient-Express Hotels Ltd (Class A)		33,441
	395,000	e	Overseas Union Enterprise Ltd		912
	395		Pacific Golf Group International Holdings KK		302
	127,646		Paddy Power plc		9,453
	714,436		Paliburg Holdings Ltd		232
	166,296	*	Panera Bread Co (Class A)		28,418
	108,535	*	Papa John’s International, Inc		5,797
	44,108		Paradise Co Ltd		713
	940,659	e	PartyGaming plc		1,583
	47,969	*,e	Peet’s Coffee & Tea, Inc		3,518
	1,477,877	*	Penn National Gaming, Inc		63,696
	961,800		Philweb Corp		391
	6,428		Pierre & Vacances		140
	225,503	*	Pinnacle Entertainment, Inc		2,762
	27,600		Plenus Co Ltd		479
	64,427	*,e	Premier Exhibitions, Inc		153
	235,500		QSR Brands BHD		502
	793,666	e	Raffles Education Corp Ltd		235
	140,745		Rank Group plc		330
	53,455	*,e	Red Lion Hotels Corp		334
	81,323	*	Red Robin Gourmet Burgers, Inc		2,648
	737,000		Regal Hotels International Holdings Ltd		319
	237,598	e	Regis Corp		4,367
	6,626,100		Resorts World BHD		7,575
	83,700	e	Resorttrust, Inc		1,559
	318,024		Restaurant Group plc		1,840

53

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	9,050,000	e	Rexcapital Financial Holdings Ltd	$	686
	100,634	*	Rezidor Hotel Group AB		380
	19,200	e	Ringer Hut Co Ltd		257
	87,400	e	Round One Corp		420
	321,833	e	Royal Caribbean Cruises Ltd		9,723
	33,700		Royal Holdings Co Ltd		422
	258,056	*,e	Ruby Tuesday, Inc		1,871
	136,316	*,e	Ruth’s Chris Steak House, Inc		868
	108,111	*	Ryman Hospitality Properties		4,274
	40,000	e	Saizeriya Co Ltd		601
	19,019,361		Sands China Ltd		70,417
	341,061	*	Scientific Games Corp (Class A)		2,821
	574,046		Service Corp International		7,727
	2,318,000	e	Shanghai Jin Jiang International Hotels Group Co Ltd		313
	699,996		Shanghai Jinjiang International Hotels Development Co Ltd		909
	107,249		Shanghai Jinjiang International Travel Co Ltd		130
	1,253,229		Shangri-La Asia Ltd		2,424
	3,959		Shinsegae Food Co Ltd		344
	314,008	*	Shuffle Master, Inc		4,964
	370,680		Six Flags Entertainment Corp		21,796
	3,181,239		SJM Holdings Ltd		6,874
	28,447		SkiStar AB (Series B)		361
	321,257		Sky City Entertainment Group Ltd		1,005
	54,499	*	Snai S.p.A.		57
	55,655		Sodexho Alliance S.A.		4,190
	77,742	e	Sol Melia S.A.		530
	434,055	*,e	Sonic Corp		4,458
	418,319	e	Sotheby’s (Class A)		13,177
	45,601		Speedway Motorsports, Inc		702
	1,067,127		Spirit Pub Co plc		901
	657,911		Sportingbet plc		548
	6,400		St Marc Holdings Co Ltd		239
	1,011,000		Stamford Land Corp Ltd		477
	370	e	Starbucks Coffee Japan Ltd		258
	3,284,043		Starbucks Corp		166,665
	1,153,605		Starwood Hotels & Resorts Worldwide, Inc		66,863
	4,800	*	Steak N Shake Co		1,752
	55,708	*	Steiner Leisure Ltd		2,593
	280,074	e	Stewart Enterprises, Inc (Class A)		2,351
	43,376	e	Strayer Education, Inc		2,791
	136,149		Sun International Ltd		1,390
	653,208		Tabcorp Holdings Ltd		1,867
	3,096,387		Tattersall’s Ltd		8,670
	229,063		Texas Roadhouse, Inc (Class A)		3,917
	1,151,609	e	Thomas Cook Group plc		326
	202,320	e	Tim Hortons, Inc (Toronto)		10,529
	12,723	*	Tipp24 SE		587
	536,000		Tokyo Dome Corp		1,749
	210,000		Tokyotokeiba Co Ltd		307
	18,100		Toridoll.corp		294
	81,704	*	Town Sports International Holdings, Inc		1,011

54

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	219,714	*,e	TUI AG.	$	1,895
	727,943		TUI Travel plc		2,756
	68,115		Unibet Group plc (ADR)		1,908
	171,679		Universal Technical Institute, Inc		2,352
	138,813	e	Vail Resorts, Inc		8,003
	28,900	e	Watami Co Ltd		655
	168,336	e	Weight Watchers International, Inc		8,888
	341,051		Wendy’s		1,552
	236,547		Wetherspoon (J.D.) plc		1,840
	434,823		Whitbread plc		15,948
	1,729,560		William Hill plc		8,861
	220,368	*	WMS Industries, Inc		3,610
	50,000		Wowprime Corp		738
	997,792		Wyndham Worldwide Corp		52,364
	2,565,290	e	Wynn Macau Ltd		6,877
	262,794		Wynn Resorts Ltd		30,337
	335,000		YBM Sisa.com, Inc		1,876
	50,000		Yomiuri Land Co Ltd		166
	536	e	Yoshinoya D&C Co Ltd		688
	2,755,897		Yum! Brands, Inc		182,825
	92,700	e	Zensho Co Ltd		1,181
			TOTAL CONSUMER SERVICES		2,115,482
DIVERSIFIED FINANCIALS - 4.7%
	230,457		3i Group plc		831
	57,379		ABC Arbitrage		468
	3,303,220		Aberdeen Asset Management plc		16,620
	32,527		Ackermans & Van Haaren		2,618
	1,398	*	Acom Co Ltd		36
	204,106		Administradora de Fondos de Pensiones Provida S.A.		1,256
	208,771	e	Aeon Credit Service Co Ltd		4,489
	33,360		Aeon Credit Service M BHD		115
	778,303		Aeon Thana Sinsap Thailand PCL		1,542
	2,914,800		Aeon Thana Sinsap Thailand PCL (ADR)		5,777
	796,369	*	Affiliated Managers Group, Inc		97,954
	1,356,745		African Bank Investments Ltd		5,398
	178,743	e	AGF Management Ltd		2,044
	191,350	*,e	Aiful Corp		335
	60,796	e	Aker ASA (A Shares)		1,973
	34,800		Alaris Royalty Corp		825
	46,666		Altamir Amboise		399
	1,452,723	*	American Capital Ltd		16,474
	4,084,595		American Express Co		232,251
	1,348,227		Ameriprise Financial, Inc		76,431
	2,424,005		AMMB Holdings BHD		5,036
	945,229		Apollo Investment Corp		7,439
	360,018		Apollo Management LP		5,278
	904,520	g	ARA Asset Management Ltd		1,162
	508,894		Ares Capital Corp		8,722
	33,957	e	Arlington Asset Investment Corp		810
	242,774	e	Artio Global Investors, Inc		723
	933,982		Ashmore Group plc		5,150

55

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	12,981	*,m	Asia Pacific Investment Partners Limited	$	92
	13,323		Aurelius AG.		573
	380,397		Australian Stock Exchange Ltd		11,623
	22,472		Avanza AB		495
	315,987		Ayala Corp		3,220
	2,215	*	Ayala Corp Preferred		0	^
	393,892		Azimut Holding S.p.A.		4,555
	5,332		Bajaj Auto Finance Ltd		119
	134,137	e	Banca Generali S.p.A		1,797
	17,510		Banca IFIS S.p.A.		118
	319,925		Banca Profilo S.p.A.		90
	35,842,725	e	Bank of America Corp		316,490
	2,894,930		Bank of New York Mellon Corp		65,483
	45,128		Bank Sarasin & Compagnie AG.		1,291
	385,788	e	BGC Partners, Inc (Class A)		1,890
	162,073	e	BinckBank NV		1,191
	424,933		BlackRock Kelso Capital Corp		4,130
	304,624		BlackRock, Inc		54,314
	6,967,231		Blackstone Group LP		99,493
	2,792,311		BM&F Bovespa S.A.		16,873
	37,984,234		Bolsa de Valores de Colombia		623
	32,890		Bolsa de Valores de Lima S.A.		120
	1,219,300	e	Bolsa Mexicana de Valores S.A. de C.V.		2,514
	86,119	e	Bolsas y Mercados Espanoles		1,813
	31,677	*	Boursorama		228
	1,089,005	*	Brait S.A.		3,845
	374,954		Brewin Dolphin Holdings plc		1,018
	531,634		BT Investment Management Ltd		1,151
	238,357		BTG Pactual Participations Ltd		3,798
	85,021		Bure Equity AB		306
	95,300		Bursa Malaysia BHD		191
	126,427		Calamos Asset Management, Inc (Class A)		1,472
	5,267	e	California First National Bancorp		97
	99,782		Canaccord Financial, Inc		577
	3,846,430		Capital One Financial Corp		219,285
	1,614,521		Capital Securities Corp		611
	11,596		Capital Southwest Corp		1,298
	140,471	e	Cash America International, Inc		5,418
	219,510		CBOE Holdings, Inc		6,458
	141,801		Century Leasing System, Inc		2,745
	279,944		CETIP S.A.-Balcao Organizado de Ativos e Derivativos		3,673
	1,287,000		Chailease Holding Co Ltd		2,430
	1,264,881		Challenger Financial Services Group Ltd		4,257
	2,261,927	e	Charles Schwab Corp		28,930
	1,353,000		China Bills Finance Corp		507
	1,392,000	e	China Everbright Ltd		1,735
	5,070,000	*	China Financial International Investments Ltd		298
	140,000	e	China Merchants China Direct Investments Ltd		181
	3,236		Cholamandalam DBS Finance Ltd		13
	327,789	e	CI Financial Corp		7,575
	425,039	*	Citadel Capital Corp		319
	1,363,000	e	CITIC Securities Co Ltd		2,390

56

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	16,058,086		Citigroup, Inc	$	525,420
	194,520		Close Brothers Group plc		2,622
	553,556		CME Group, Inc		31,719
	66,554	e	Cohen & Steers, Inc		1,971
	1,315,400	e	Compartamos SAB de C.V.		1,542
	961,275	*	Concord Securities Corp		223
	792,156		Coronation Fund Managers Ltd		2,950
	23,722		Corp Financiera Alba		906
	123,608		Corp Financiera Colombiana S.A.		2,335
	354,841	*	Cowen Group, Inc		958
	25,528	*	Creades AB		459
	30,336	*	Credit Acceptance Corp		2,594
	1,953,600	e	Credit China Holdings Ltd		170
	226,968		Credit Saison Co Ltd		5,484
	2,214,555		Credit Suisse Group		46,825
	27,398		DAB Bank AG.		119
	229,371		Daewoo Securities Co Ltd		2,610
	64,400		Daishin Securities Co Ltd		509
	50,210		Daishin Securities Co Ltd PF		293
	2,679,135	*,e	Daiwa Securities Group, Inc		10,176
	109,016	e	Davis & Henderson Income Fund		2,289
	130,557	*	DeA Capital S.p.A.		213
	19,805	*,e	Deerfield Capital Corp		145
	1,465,892		Deutsche Bank AG.		58,063
	15,825		Deutsche Beteiligungs AG.		393
	233,856		Deutsche Boerse AG.		12,941
	13,076	e	Diamond Hill Investment Group, Inc		1,003
	5,758,849		Discover Financial Services		228,800
	159,915	*	Dollar Financial Corp		2,743
	53,250		Dongbu Securities Co Ltd		174
	128,856		Duff & Phelps Corp		1,754
	63,280	*	Dundee Corp		1,591
	800,903	*	E*Trade Financial Corp		7,056
	41,398		East Capital Explorer AB		322
	178,443	e	Eaton Vance Corp		5,168
	759,500		ECM Libra Financial Group BHD		218
	105,492		Edelweiss Capital Ltd		68
	72,240		EFG International		600
	913,525		Egypt Kuwait Holding Co		1,224
	444,224	*	Egyptian Financial Group-Hermes Holding		867
	154,200	*	Element Financial Corp		961
	56,249	e	Epoch Holding Corp		1,299
	78,275	*	Eugene Investment & Securities Co Ltd		188
	44,578		Eurazeo		2,040
	141,905		Evercore Partners, Inc (Class A)		3,831
	210,593		Exor S.p.A.		5,306
	251,842	*	Ezcorp, Inc (Class A)		5,775
	639,466		F&C Asset Management plc		1,000
	1,825,000		Far East Horizon Ltd		1,111
	206,730	*	FBR & Co		639
	133,894	e	Federated Investors, Inc (Class B)		2,770
	53,499	e	Fidus Investment Corp		893

57

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	318,665	*,e	Fifth Street Finance Corp	$	3,499
	10,038		Fimalac		415
	354,849	*,e	Financial Engines, Inc		8,456
	113,555	*	First Cash Financial Services, Inc		5,225
	241,593	*,e	First Marblehead Corp		254
	4,038,000		First Pacific Co		4,367
	21,344	*	Firsthand Technology Value Fund, Inc		372
	5,563,625	e	FirstRand Ltd		18,648
	619,542		FlexiGroup Ltd		2,071
	377,645		Franklin Resources, Inc		47,232
	15,696,818		Fubon Financial Holding Co Ltd		16,954
	13,050,234		Fuhwa Financial Holdings Co Ltd		6,830
	99,300		Fuyo General Lease Co Ltd		2,899
	80,154	e	FXCM, Inc		765
	52,729	e	Gain Capital Holdings, Inc		260
	24,609	e	GAMCO Investors, Inc (Class A)		1,224
	117	e	GCA Savvian Group Corp		117
	4,412,000		Get Nice Holdings Ltd		181
	265,009	e	GFI Group, Inc		843
	35,317		Gimv NV		1,678
	138,769	e	Gladstone Capital Corp		1,214
	127,216	e	Gladstone Investment Corp		995
	29,248		Gluskin Sheff + Associates, Inc		435
	78,466	e	GMP Capital, Inc		465
	2,206,358		Goldman Sachs Group, Inc		250,820
	51,295	e	Golub Capital BDC, Inc		816
	84,456	*,e	Green Dot Corp		1,033
	107,699	e	Greenhill & Co, Inc		5,573
	144,865		Groupe Bruxelles Lambert S.A.		10,759
	883	*	Groupe Bruxelles Lambert S.A. - STR VVPR		0	^
	14,336	*	Grupo de Inversiones Suramericana S.A.		265
	70,379	*,e	GSV Capital Corp		607
	70,850		GT Capital Holdings, Inc		923
	1,153,000	e	Guotai Junan International Hol		304
	1,123,121		Haci Omer Sabanci Holding AS		4,927
	84,290		Hanwha Securities Co		313
	615,215		Hargreaves Lansdown plc		6,257
	120,631	*,e	Harris & Harris Group, Inc		457
	78,863		Hellenic Exchanges S.A.		356
	1,910,830		Henderson Group plc		3,317
	267,511		Hercules Technology Growth Capital, Inc		2,945
	465,339	*,e	HFF, Inc (Class A)		6,934
	238,000		Hitachi Capital Corp		4,308
	8,930		HMC Investment Securities Co Ltd		120
	1,157,660	e	Hong Kong Exchanges and Clearing Ltd		17,392
	1,194,000	e	Hongkong Chinese Ltd		208
	23,065	e	Horizon Technology Finance Corp		373
	141,487		Hyundai Securities Co		1,174
	19,800	e	IBJ Leasing Co Ltd		493
	599,211		ICAP plc		3,115
	51,800	e	Ichiyoshi Securities Co Ltd		258

58

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	1,525,432		IFCI Ltd	$	895
	541,334		IG Group Holdings plc		3,905
	180,666	e	IGM Financial, Inc		7,055
	167,436		India Infoline Ltd		183
	418,928		Indiabulls Financial Services Ltd		1,693
	18,736	*	Indiabulls Securities Ltd		3
	161,052		Industrivarden AB		2,308
	2,606,301		Infrastructure Development Finance Co Ltd		7,606
	9,665,258	*	ING Groep NV		76,551
	93,403		Interactive Brokers Group, Inc (Class A)		1,310
	179,983	*	Interbolsa S.A.		180
	647,234	*	IntercontinentalExchange, Inc		86,347
	19,024	f	Intergroup Financial Services Corp (purchased 08/18/10, cost $566)		618
	1,110,067		Intermediate Capital Group plc		5,359
	53,526	*,e	International Assets Holding Corp		1,020
	522,967		International Personal Finance plc		2,536
	137,806	*,e	Internet Capital Group, Inc		1,400
	1,237,222		Invesco Ltd		30,918
	294,410		Investec Ltd		1,812
	125,696		Investec plc		778
	235,069	*,e	Investment Technology Group, Inc		2,045
	471,439		Investor AB (B Shares)		10,389
	473,570		IOOF Holdings Ltd		2,801
	13,736	*	Is Finansal Kiralama AS.		7
	165,905		Is Yatirim Menkul Degerler AS		157
	1,500,000	e	iShares Asia Trust - iShares FTSE/Xinhua A50 China Tracker		1,884
	1,998,788	e	iShares MSCI Canada Index Fund		56,886
	608,039	e	iShares MSCI EAFE Index Fund		32,226
	268,284		iShares MSCI Emerging Markets		11,085
	100,344	e	iShares Russell 2000 Index Fund		8,375
	28,100	*	J Trust Co Ltd		327
	392,000		Jaccs Co Ltd		1,494
	165,917	*	Jafco Co Ltd		3,218
	224,674		Janus Capital Group, Inc		2,121
	8,823,000	*,a,e	Japan Asia Investment Co Ltd		5,319
	1,560,500		Japan Securities Finance Co Ltd		7,162
	165,428	e	Jefferies Group, Inc		2,265
	2,209,484		Jih Sun Financial Holdings Co Ltd		631
	64,873		JMP Group, Inc		356
	16,645,697		JPMorgan Chase & Co		673,817
	190,218		JSE Ltd		1,575
	137,679		Julius Baer Group Ltd		4,802
	49,325		Julius Baer Holding AG.		644
	412,125		Jupiter Investment Management Group Ltd		1,623
	846,000		K1 Ventures Ltd		90
	113,800		kabu.com Securities Co Ltd		331
	9,920,000	*	Kai Yuan Holdings Ltd		272
	79,360	*,e	Kardan NV		55
	15,075		KAS Bank NV		150
	43,613	*	KBC Ancora		426

59

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	128,205	e	KBW, Inc	$	2,112
	113,668	e	KCAP Financial, Inc		1,053
	48,566		Kinnevik Investment AB (Series B)		1,010
	24,134		KIWOOM Securities Co Ltd		1,414
	326,300	*	Knight Capital Group, Inc (Class A)		874
	54,140		Korea Investment Holdings Co Ltd		1,945
	417,241		Kotak Mahindra Bank Ltd		5,123
	82,410	*	KTB Securities Co Ltd		177
	47,580		Kyobo Securities Co		206
	411,517	*,e	Ladenburg Thalmann Financial Services, Inc		543
	168,572		Lazard Ltd (Class A)		4,927
	667,788		Legg Mason, Inc		16,481
	467,515	e	Leucadia National Corp		10,636
	379,687		London Stock Exchange Group plc		5,792
	127,073		LPL Financial Holdings, Inc		3,627
	90,951		Lundbergs AB (B Shares)		3,152
	457,455	*	Macquarie Group Ltd		13,414
	11,800		Mahindra & Mahindra Financial Services		201
	102,038	e	Main Street Capital Corp		3,011
	4,107,845		Man Group plc		5,477
	735,436		Manappuram General Finance & Leasing Ltd		554
	79,214		Manning & Napier, Inc		966
	863,086	*	Marfin Investment Group S.A		322
	194,938		MarketAxess Holdings, Inc		6,160
	37,560	e	Marlin Business Services Corp		797
	93,300		Marusan Securities Co Ltd		278
	1,973,000		Masterlink Securities Corp		636
	148,400	e	Matsui Securities Co Ltd		945
	195,450		Maybank Kim Eng Securities Thailand PCL		88
	412,592	e	MCG Capital Corp		1,902
	63,344	e	Medallion Financial Corp		748
	1,376,628		Mediobanca S.p.A.		7,376
	127,930	e	Medley Capital Corp		1,800
	215,374	*	Meritz finance Holdings Co Ltd		609
	577,470		Meritz Securities Co Ltd		531
	11,304,000		Metro Pacific Investments Corp		1,133
	20,202		MicroFinancial, Inc		185
	396,000		MIN XIN Holdings Ltd		218
	26,571		Mirae Asset Securities Co Ltd		803
	113,237		Mitsubishi UFJ Lease & Finance Co Ltd		4,767
	100,098		MLP AG.		652
	24,979	e	Monex Beans Holdings, Inc		4,097
	720,160		Moody’s Corp		31,809
	11,824,999		Morgan Stanley		197,951
	319,274	*	MSCI, Inc (Class A)		11,427
	1,531,700	*	Mulpha International BHD		198
	1,066,600		Multi-Purpose Holdings BHD		1,220
	86,455		MVC Capital, Inc		1,107
	612,446	*	Narodowy Fundusz Inwestycyjny Midas S.A.		129
	142,087		Nasdaq Stock Market, Inc		3,310
	89,011		Nelnet, Inc (Class A)		2,113
	134,193	*,e	Netspend Holdings, Inc		1,319

60

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	101,075	e	New Mountain Finance Corp	$	1,498
	94,378	*,e	NewStar Financial, Inc		1,132
	83,137		NGP Capital Resources Co		620
	76,683		NH Investment & Securities Co Ltd		369
	39,415	e	Nicholas Financial, Inc		509
	5,596,172		Nomura Holdings, Inc		19,985
	135,675		Nordnet AB (Series B)		389
	21,904,308		Norte Grande S.A.		220
	1,240,063		Northern Trust Corp		57,558
	306,558		NYSE Euronext		7,557
	4,487,866	e	NZX Ltd		4,203
	788,147		Och-Ziff Capital Management Group LLC		7,614
	245,000		Okasan Holdings, Inc		918
	101,362		OKO Bank (Class A)		1,336
	106,614		Onex Corp		4,208
	39,636	e	Oppenheimer Holdings, Inc		632
	28,675		Oresund Investment AB		413
	366,000	*	Orient Corp		562
	494,543	*	ORIX Corp		49,533
	117	e	Osaka Securities Exchange Co Ltd		509
	720,575		OSK Holdings BHD		332
	10,046		Pargesa Holding S.A.		665
	27,717		Partners Group		5,770
	1,239,600		Pearl Oriental Innovation Ltd		112
	191,947	e	PennantPark Investment Corp		2,037
	517,000	*,m	Peregrine Investment Holdings		0	^
	99,241	e	Perpetual Trustees Australia Ltd		2,662
	283,524	*,e	PHH Corp		5,770
	43,650		Philippine Stock Exchange, Inc		392
	84,816	*	Pico Holdings, Inc		1,936
	378,585	*	Pioneers Holding		362
	82,032	*,e	Piper Jaffray Cos		2,088
	271,967	e	Platinum Asset Mangement Ltd		997
	974,832		Power Finance Corp Ltd		3,483
	189,300		PowerShares QQQ Trust Series		12,982
	1,849,509		President Securities Corp		997
	704,054	e	Prospect Capital Corp		8,111
	207,435		Provident Financial plc		4,604
	1,889,000		PT Clipan Finance Indonesia Tbk		79
	37,797		Pzena Investment Management, Inc (Class A)		197
	70,834		Rathbone Brothers		1,520
	313,268	e	Ratos AB (B Shares)		2,764
	465,150		Raymond James Financial, Inc		17,048
	11,494	*,e	Regional Management Corp		198
	130,193		Reliance Capital Ltd		1,060
	1,078,704		Remgro Ltd		18,859
	43,504	e	Resource America, Inc (Class A)		298
	121,377	*	RHJ International		605
	38,818		Ricoh Leasing Co Ltd		947
	927,786		RMB Holdings Ltd		4,125
	616,111		Rural Electrification Corp Ltd		2,544
	78,718	*,e	Safeguard Scientifics, Inc		1,235

61

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	68,979		Samsung Card Co	$	2,473
	85,593		Samsung Securities Co Ltd		4,009
	60,000	*	Sawada Holdings Co Ltd		261
	118,640	*,e	SBI Holdings, Inc		764
	85,024		Schroders plc		2,089
	821,837		SEI Investments Co		17,628
	5	*,m	SFCG Co Ltd		0	^
	385,000		Shenyin Wanguo HK Ltd		100
	152,875		Shriram Transport Finance Co Ltd		1,792
	1,146,849		Singapore Exchange Ltd		6,518
	126,570		SK Securities Co Ltd		144
	1,322,972	e	SLM Corp		20,797
	200,442	*,e	SNS Reaal		299
	108,110		Solar Capital Ltd		2,478
	41,212	e	Solar Senior Capital Ltd		738
	1,080	*	Sparx Group Co Ltd		69
	62,373	e	SPDR S&P MidCap 400 ETF Trust		11,222
	629,908		SPDR Trust Series 1		90,663
	82,468		Sprott, Inc		398
	409,246		SREI Infrastructure Finance Ltd		211
	2,300,082		State Street Corp		96,511
	257,212	*	Stifel Financial Corp		8,642
	2,677		Sundaram Finance Ltd		42
	501,062		Suramericana de Inversiones S.A.		8,475
	11,691		Swissquote Group Holding S.A.		357
	190,806	*,e	SWS Group, Inc		1,166
	594,668		T Rowe Price Group, Inc		37,642
	2,005,300		Ta Enterprise BHD		337
	570,337		Tai Fook Securities Group Ltd		190
	90,000		Taiwan Acceptance Corp		208
	170,000	*	Takagi Securities Co Ltd		177
	1,140		Tata Investment Corp Ltd		10
	26,288		TCP Capital Corp		420
	417,777	e	TD Ameritrade Holding Corp		6,421
	263,859		Tetragon Financial Group Ltd		2,253
	55,218	e	THL Credit, Inc		775
	136,854		TICC Capital Corp		1,423
	3,280	*	TMX Group Ltd		168
	448,680	e	Tokai Tokyo Securities Co Ltd		1,500
	61,642		Tong Yang Investment Bank		232
	125,333		Transpac Industrial Holdings Ltd		176
	129,503	e	Triangle Capital Corp		3,323
	300,696		Tullett Prebon plc		1,451
	8,142,787		UBS AG. (Switzerland)		99,154
	1,107,565		UOB-Kay Hian Holdings Ltd		1,479
	142,337	*	Uranium Participation Corp		757
	844,000	e	Value Partners Group Ltd		410
	7,729		Verwalt & Privat-Bank AG.		612
	23,501	*	Virtus Investment Partners, Inc		2,021
	57,305		Vontobel Holding AG.		1,441
	103,050		Vostok Nafta Investment Ltd		248
	131,334		Waddell & Reed Financial, Inc (Class A)		4,304

62

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	103,341		Walter Investment Management Corp	$	3,825
	44,748		Warsaw Stock Exchange		511
	3,492,702		Waterland Financial Holdings		1,062
	92,232		Wendel		7,784
	25,395	e	Westwood Holdings Group, Inc		991
	304,206	*	WisdomTree Investments, Inc		2,038
	27,108		Woori Financial Co Ltd		403
	173,713		Woori Investment & Securities Co Ltd		1,819
	38,270	*,e	World Acceptance Corp		2,581
			TOTAL DIVERSIFIED FINANCIALS		4,995,516
ENERGY - 10.1%
	151,121		Aban Offshore Ltd		1,252
	295,140	*,e	Abraxas Petroleum Corp		679
	122,724	e	Acergy S.A.		2,835
	7,851	e	Adams Resources & Energy, Inc		239
	24,672,227		Adaro Energy Tbk		3,849
	463,507	*	Advantage Oil & Gas Ltd		1,735
	10,626,535	*	Afren plc		24,145
	144,316		Aker Kvaerner ASA		2,749
	273,100	*	Alam Maritim Resources BHD		46
	317,035		Alliance Holdings GP LP		15,202
	121,328		Alon USA Energy, Inc		1,662
	1,392,232	*,e	Alpha Natural Resources, Inc		9,147
	133,019	e	AltaGas Income Trust		4,567
	99,704		AMEC plc		1,850
	1,104,678	*,e	Amerisur Resources plc		638
	102,049	*,e	Amyris Biotechnologies, Inc		351
	2,522,973		Anadarko Petroleum Corp		176,407
	89,000	*	Angle Energy, Inc		358
	236,097		Anglo Pacific Group plc		1,099
	184,000		Anhui Tianda Oil Pipe Co Ltd		25
	1,276,000		Anton Oilfield Services Group		297
	51,300		AOC Holdings, Inc		150
	1,373,611		Apache Corp		118,776
	33,925	e	APCO Argentina, Inc		546
	116,091	*,e	Approach Resources, Inc		3,498
	219,538	*,e	Aquila Resources Ltd		583
	240,451	e	ARC Energy Trust		5,846
	912,689	e	Arch Coal, Inc		5,777
	129,801	*,e	Archer Ltd		198
	252,677	*	Athabasca Oil Corp		3,388
	216,429	*	Atwood Oceanics, Inc		9,837
	559,305	*	Aurelian Oil & Gas plc		81
	522,361	*,e	Aurora Oil and Gas Ltd		1,943
	703,676		Australian Worldwide Exploration Ltd		952
	1,568,440	*,e	Bahamas Petroleum Co plc		117
	2,763,896		Baker Hughes, Inc		125,010
	114,392	*,e	Bandanna Energy Ltd		38
	1,384,500		Bangchak Petroleum PCL		1,096
	303,626	*	Bankers Petroleum Ltd		911
	178,700		Banpu PCL		2,270

63

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	8,200		Banpu PCL (ADR)	$	104
	130,876	*,e	Basic Energy Services, Inc		1,468
	546,121	e	Baytex Energy Trust		25,953
	3,514,717		Beach Petroleum Ltd		4,590
	144,000	*	Bellatrix Exploration Ltd		584
	235,108	e	Berry Petroleum Co (Class A)		9,552
	6,948,479		BG Group plc		140,601
	443,588		Bharat Petroleum Corp Ltd		2,928
	196,014	*,e	Bill Barrett Corp		4,855
	117,699	*,e	Birchcliff Energy Ltd		795
	362,400	*,e	BlackPearl Resources, Inc		1,334
	174,000	*,e	BNK Petroleum, Inc		127
	31,092		Bolt Technology Corp		447
	86,649	*,e	Bonanza Creek Energy, Inc		2,041
	113,550	e	Bonavista Energy Trust		2,014
	34,402	e	Bonterra Oil & Gas Ltd		1,533
	517,045	*,e	Borders & Southern Petroleum plc		205
	54,344		Bourbon S.A.		1,559
	514,000		Boustead Singapore Ltd		404
	267,703	*	BowLeven plc		334
	14,078,175		BP plc		99,249
	1,445,510		BP plc (ADR)		61,232
	365,232	*,e	BPZ Energy, Inc		1,045
	1,184,600	*	Brasil Ecodiesel Industria e Comercio de Biocombustiveis e Oleos Vegetais S.A.		216
	5,007,000	e	Brightoil Petroleum Holdings Ltd		932
	132,958		Bristow Group, Inc		6,721
	2,408,300		Bumi Armada BHD		2,903
	190,044	*	Buru Energy Ltd		575
	477,107		BW Offshore Ltd		300
	85,000	*	C&C Energia Ltd		552
	213,683	*,e	C&J Energy Services, Inc		4,252
	868,203		Cabot Oil & Gas Corp		38,982
	911,320		Cairn Energy plc		4,059
	505,758	*	Cairn India Ltd		3,170
	547,076	*,e	Cal Dive International, Inc		837
	117,186		Calfrac Well Services Ltd		2,820
	269,461	*	Callon Petroleum Co		1,657
	202,600		Caltex Australia Ltd		3,452
	325,034	*	Cam Finanziaria S.p.A.		188
	579,755	e	Cameco Corp		11,293
	1,085,676	*	Cameron International Corp		60,874
	762,000	*	Canacol Energy Ltd		372
	112,500	e	Canadian Energy Services & Technology Corp		1,211
	1,494,358		Canadian Natural Resources Ltd (Canada)		46,103
	1,317,633		Canadian Oil Sands Trust		28,213
	171,084	e	Canyon Services Group, Inc		2,071
	770,000	e	Capital Product Partners LP		6,291
	39,928	e	CARBO Ceramics, Inc		2,512
	142,261	*,e	Carrizo Oil & Gas, Inc		3,558
	21,363		CAT Oil AG.		153
	116,911	*	Celtic Exploration Ltd		2,174

64

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	2,991,314	e	Cenovus Energy, Inc	$	104,247
	2,325,843	e	Cenovus Energy, Inc (Toronto)		81,171
	137,400	*	Cequence Energy Ltd		247
	12,877	*,e	Ceres, Inc		73
	139,949	*,e	Chariot Oil & Gas Ltd		68
	422,702	*	Cheniere Energy, Inc		6,573
	1,168,026	e	Chesapeake Energy Corp		22,041
	8,194,011		Chevron Corp		955,095
	316,000		China Aviation Oil Singapore Corp Ltd		258
	8,077,000	e	China Coal Energy Co		7,326
	5,758,000		China Oilfield Services Ltd		10,427
	972,000	*	China Qinfa Group Ltd		115
	6,766,799		China Shenhua Energy Co Ltd		26,148
	633,000		China Suntien Green Energy Cor		116
	5,177,000	e	Chu Kong Petroleum & Natural Gas Steel Pipe Holdings Ltd		1,927
	252,683		Cimarex Energy Co		14,795
	1,425,702	*	Circle Oil plc		486
	21,396	*,e	Clayton Williams Energy, Inc		1,110
	240,859	*,e	Clean Energy Fuels Corp		3,172
	296,093	*	Cloud Peak Energy, Inc		5,359
	48,098,000		CNOOC Ltd		97,655
	1,085,382		Coal India Ltd		7,374
	2,212,508	*	Cobalt International Energy, Inc		49,273
	601,089	*,e	Cockatoo Coal Ltd		72
	89,971	*,e	Compagnie Generale de Geophysique S.A.		2,889
	175,675	*,e	Comstock Resources, Inc		3,229
	2,022,290	*	Concho Resources, Inc		191,613
	950,257	*	Connacher Oil and Gas Ltd		522
	3,875,498		ConocoPhillips		221,602
	435,759		Consol Energy, Inc		13,095
	78,032	*	Contango Oil & Gas Co		3,834
	414,257	*,e	Continental Resources, Inc		31,856
	133,683		Core Laboratories NV		16,240
	305,974		Cosan SA Industria e Comercio		5,589
	394,570		Cosmo Oil Co Ltd		726
	26,213	*	CREDO Petroleum Corp		380
	2,619,542	e	Crescent Point Energy Corp		115,989
	134,628	*	Crew Energy, Inc		991
	76,108	*,e	Crimson Exploration, Inc		325
	49,052		CropEnergies AG.		305
	176,736		Crosstex Energy, Inc		2,480
	215,107	*,e	CVR Energy, Inc		7,905
	489,815	*	CVR Energy, Inc (Contingent value right)		3,306
	606,128	*,e	Dart Energy Ltd		106
	34,681	*	Dawson Geophysical Co		876
	269,100		Dayang Enterprise Holdings BHD		177
	113,500	*	Deep Sea Supply plc		188
	116,078		Delek US Holdings, Inc		2,959
	8,082,966	*	Denbury Resources, Inc		130,621
	395,408	*	Denison Mines Corp		587
	74,095	*	Det Norske Oljeselskap ASA		1,226

65

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	768,512	*	Devon Energy Corp	$	46,495
	311,352	e	Diamond Offshore Drilling, Inc		20,490
	1,360,510	*,e	DNO International ASA		2,607
	61,201	*	Dockwise Ltd		1,058
	2,409,211		Dragon Oil plc		23,591
	945,966	*	Dresser-Rand Group, Inc		52,132
	370,962	*,e	Drillsearch Energy Ltd		593
	150,798	*,e	Dril-Quip, Inc		10,839
	10,521,014		Ecopetrol S.A.		30,982
	57,861	e	Ecopetrol S.A. (ADR)		3,410
	151,015	*	Electromagnetic GeoServices AS		372
	173,504	*,e	Emerald Oil, Inc		144
	73,011	e	Enbridge Income Fund		1,746
	1,006,602		Enbridge, Inc		39,318
	784,756	e	EnCana Corp		17,186
	170,411	*,e	Endeavour International Corp		1,648
	163,918		Enerflex Ltd		2,076
	127,252		Energen Corp		6,669
	769,200	*	Energy Earth PCL		122
	653,497	*,e	Energy Resources of Australia Ltd		892
	244,421		Energy Transfer Partners LP		10,405
	367,649	e	Energy XXI Bermuda Ltd		12,849
	162,091	e	Enerplus Resources Fund		2,688
	4,943,591	e	ENI S.p.A.		108,381
	1,854,919	*	Enquest plc (London)		3,447
	385,973		Ensco plc		21,059
	300,193		Ensign Energy Services, Inc		4,611
	1,418,074		EOG Resources, Inc		158,896
	190,042	*	EPL Oil & Gas, Inc		3,856
	384,100		Equitable Resources, Inc		22,662
	200,110	e	ERG S.p.A.		1,450
	411,996	*	Essar Energy plc		766
	5,564		Esso SA Francaise		435
	616,900		Esso Thailand PCL		214
	105,932	e	Etablissements Maurel et Prom		1,570
	58,869	f	Eurasia Drilling Co Ltd (GDR) (purchased 10/06/10, cost $1,587)		1,946
	30,174	*	Euronav NV		193
	55,781	*	Evolution Petroleum Corp		451
	1,748,120	e	EXCO Resources, Inc		14,002
	53,170		Exmar NV		404
	283,517	*	Exterran Holdings, Inc		5,750
	17,648,983		Exxon Mobil Corp		1,614,000
	1,974,000	e	Ezion Holdings Ltd		2,154
	858,200	e	Ezra Holdings Ltd		849
	119,496	*,e	Fairborne Energy Ltd		163
	376,933	*,e	Falkland Oil & Gas Ltd		399
	414,873	*	Faroe Petroleum plc		1,016
	1,729,458	*	FMC Technologies, Inc		80,073
	55,837	*	Forbes Energy Services Ltd		195
	425,369	*	Forest Oil Corp		3,594
	1,891,580		Formosa Petrochemical Corp		5,675

66

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	79,610	*,e	Forum Energy Technologies, Inc	$	1,936
	107,042		Fred Olsen Energy ASA		4,768
	118,192	e	Freehold Royalty Trust		2,376
	177,291	e	Frontline Ltd		681
	74,818	e	Frontline Ltd (Norway)		287
	11,775		Fugro NV		800
	190,661	*,e	FX Energy, Inc		1,422
	200,887		Galp Energia SGPS S.A.		3,255
	82,000	*,e	Gasfrac Energy Services, Inc		164
	85,614	*	GasLog Ltd		991
	229,555	*	Gastar Exploration Ltd		381
	9,490,793		Gazprom OAO (ADR)		95,647
	71,575	e	Gazpromneft OAO (ADR)		1,765
	4,815,000	*,e	Genesis Energy Holdings Ltd		94
	26,212	*	Geospace Technologies Corp		3,209
	95,589	*,e	Gevo, Inc		204
	248,700	e	Gibson Energy, Inc		5,826
	65,810	*,e	Global Geophysical Services, Inc		363
	107,809	e	Golar LNG Ltd		4,160
	91,693	*,e	Goodrich Petroleum Corp		1,159
	47,943		Great Eastern Shipping Co Ltd		224
	84,616	*,e	Green Plains Renewable Energy, Inc		496
	153,587	*	Grupa Lotos S.A.		1,509
	82,573		GS Holdings Corp		4,916
	255,407	*	Guide Exploration Ltd		439
	276,456	*,e	Guildford Coal Ltd		121
	60,903		Gulf Island Fabrication, Inc		1,697
	1,184,092	*,e	Gulf Keystone Petroleum Ltd		4,507
	132,658	*	Gulfmark Offshore, Inc		4,383
	206,767	*,e	Gulfport Energy Corp		6,464
	251,544	*,e	Gulfsands Petroleum plc		418
	453,633	*,e	Halcon Resources Corp		3,325
	16,600	e	Hallador Petroleum Co		138
	2,780,013		Halliburton Co		93,658
	1,857		Hankook Shell Oil Co Ltd		402
	74,919	*	Hardy Oil & Gas plc		161
	54,894		Hargreaves Services plc		601
	147,451	*,e	Harvest Natural Resources, Inc		1,315
	479,283	*,e	Heckmann Corp		2,013
	511,663	*	Helix Energy Solutions Group, Inc		9,348
	162,800		Hellenic Petroleum S.A.		1,360
	350,783	e	Helmerich & Payne, Inc		16,701
	692,386	*	Hercules Offshore, Inc		3,379
	276,005	*,e,m	Heritage Oil Ltd		863
	952,003		Hess Corp		51,142
	190,900	*	Hibiscus Petroleum BHD		110
	1,888,000	e	Hidili Industry International Development Ltd		450
	737,000	e	Hilong Holding Ltd		170
	235,849	*	Hindustan Oil Exploration		519
	75,227	*	Hoegh LNG Holdings Ltd		578
	1,045,753		Holly Corp		43,158
	1,549,000		Honghua Group Ltd		298

67

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	1,394,691	*,e	Horizon Oil Ltd	$	431
	142,674	*	Hornbeck Offshore Services, Inc		5,229
	550,600	*	HRT Participacoes em Petroleo S.A.		1,209
	179,574		Hunting plc		2,404
	1,012,876	e	Husky Energy, Inc		27,220
	43,425		Idemitsu Kosan Co Ltd		3,552
	795,816	e	Imperial Oil Ltd		36,630
	1,233,805		Inner Mongolia Yitai Coal Co		6,650
	3,770		Inpex Holdings, Inc		22,412
	526,466	*,e	ION Geophysical Corp		3,654
	30,748,000		IRPC PCL		4,245
	5,180	*,e	Isramco, Inc		601
	322,700	*	Ithaca Energy, Inc		640
	102,353		Itochu Enex Co Ltd		546
	504,773	*,e	Ivanhoe Energy, Inc		277
	3,200	e	Japan Drilling Co Ltd		90
	25,054		Japan Petroleum Exploration Co		1,004
	142,746	*	JKX Oil & Gas plc		183
	764,835		John Wood Group plc		9,945
	1,864,961	e	JX Holdings, Inc		10,187
	59,000		Kanto Natural Gas Development Ltd		323
	326,485	*	Karoon Gas Australia Ltd		1,817
	635,119	*	Key Energy Services, Inc		4,446
	156,620	e	Keyera Facilities Income Fund		7,590
	1,575,926		Kinder Morgan, Inc		55,977
	97,756	*,e	KiOR, Inc (Class A)		909
	82,569	e	Knightsbridge Tankers Ltd		541
	1,148,425		KNM Group BHD		253
	3,676,182	*,e	Kodiak Oil & Gas Corp		34,409
	638,581	*,e	Kosmos Energy LLC		7,273
	190,232	e	Kumba Resources Ltd		3,680
	215,106		Kvaerner ASA		557
	1,380,865	*,e	Laredo Petroleum Holdings, Inc		30,351
	168,000	*	Legacy Oil & Gas, Inc		1,148
	373,336	*,e	Linc Energy Ltd		241
	52,400		Longview Oil Corp		378
	58,906		Lubelski Wegiel Bogdanka S.A.		2,219
	637,503		Lufkin Industries, Inc		34,310
	982,620		LUKOIL (ADR)		60,735
	104,650	*	Lundin Petroleum AB		2,556
	544,079	*,e	Magnum Hunter Resources Corp		2,416
	3,019,726		Marathon Oil Corp		89,293
	1,510,305		Marathon Petroleum Corp		82,448
	222,505		Maridive & Oil Services SAE		263
	818,203	*	Matador Resources Co		8,501
	74,506	e	Matrix Composites & Engineering Ltd		168
	92,480	*	Matrix Service Co		978
	105,932	*	Maurel & Prom Nigeria		282
	152,731	*,e	Maverick Drilling & Exploration Ltd		188
	1,558,282	*	McDermott International, Inc		19,042
	378,589	*,e	McMoRan Exploration Co		4,448
	119,562	*	MEG Energy Corp		4,547

68

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	260,181	e	Miclyn Express Offshore Ltd	$	579
	64,714	*	Midnight Oil Exploration Ltd		186
	89,615	*	Midstates Petroleum Co, Inc		775
	2,470,000	e	MIE Holdings Corp		603
	151,397	*,e	Miller Petroleum, Inc		762
	42,352	*	Mitcham Industries, Inc		675
	53,600		Mitsuuroko Co Ltd		409
	21,800		Modec, Inc		429
	69,763	e	MOL Hungarian Oil and Gas plc		5,796
	527,574	*	Molopo Energy Ltd		329
	4,993,117	*	Mongolia Energy Co ltd		209
	127,717		Motor Oil Hellas Corinth Refineries S.A.		994
	196,898	e	Mullen Group Ltd		4,667
	823,036		Murphy Oil Corp		44,189
	528,827	*	Nabors Industries Ltd		7,419
	482,904	*	Nagarjuna Oil Refinery Ltd		50
	48,350	*	Naphtha Israel Petroleum Corp Ltd		174
	1,903,077		National Oilwell Varco, Inc		152,454
	66,470	*	Natural Gas Services Group, Inc		994
	21,034		Neste Oil Oyj		276
	314,706	*	New Brazil Holding ASA		209
	874,366		New Zealand Oil & Gas Ltd		601
	890,232	*	Newfield Exploration Co		27,882
	2,602,000		Newocean Energy Holdings Ltd		757
	366,224	*,e	Newpark Resources, Inc		2,714
	657,311		Nexen, Inc		16,648
	6,769,957	*	Nexus Energy Ltd		975
	66,600		Niko Resources Ltd		920
	621,575		Noble Energy, Inc		57,626
	257,605	e	Nordic American Tanker Shipping		2,597
	163,404		Northern Offshore Ltd		294
	231,980	*,e	Northern Oil And Gas, Inc		3,941
	282,500	*,e	Norwegian Energy Co AS		251
	387,277	f	NovaTek OAO (GDR) (purchased 12/02/08, cost $40,616)		45,977
	123,079	*	NuVista Energy Ltd		566
	292,282	*,e	Oasis Petroleum, Inc		8,614
	6,512,950		Occidental Petroleum Corp		560,505
	449,624		Oceaneering International, Inc		24,842
	2,055,677	*	OGX Petroleo e Gas Participacoes S.A.		6,236
	1,207,942	*	Oil Refineries Ltd		491
	104,209	*	Oil States International, Inc		8,280
	328,859		OMV AG.		11,520
	305,614	*	Ophir Energy plc		3,003
	2,052,425		Origin Energy Ltd		24,048
	98,806	e	Overseas Shipholding Group, Inc		652
	796,920	*	PA Resources AB		83
	82,316		Pacific Rubiales Energy Corp		1,967
	1,210,823	e	Pacific Rubiales Energy Corp (Toronto)		28,931
	995,999	*,e	Paladin Resources Ltd		1,274
	28,703	e	Panhandle Oil and Gas, Inc (Class A)		880
	62,089	*,e	Paramount Resources Ltd (Class A)		1,893

69

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	190,100	*	Parex Resources, Inc	$	934
	502,694	*	Parker Drilling Co		2,126
	169,915	e	Parkland Income Fund		2,871
	143,256	e	Pason Systems, Inc		2,391
	399,808	e	Patterson-UTI Energy, Inc		6,333
	6,083		Paz Oil Co Ltd		730
	109,933	*	PDC Energy, Inc		3,477
	915,609		Peabody Energy Corp		20,409
	280,204	e	Pembina Pipeline Income Fund		7,867
	431,420	e	Pengrowth Energy Trust		2,909
	295,696		Penn Virginia Corp		1,833
	542,499	e	Penn West Energy Trust		7,720
	111,600	e	PetroBakken Energy Ltd		1,584
	138,700	*	Petrobank Energy & Resources Ltd		1,946
	1,322,876		Petrofac Ltd		34,179
	5,369,076		Petroleo Brasileiro S.A.		61,709
	448,000		Petroleo Brasileiro S.A. (ADR)		10,277
	7,122,066		Petroleo Brasileiro S.A. (Preference)		78,590
	507,888		Petroleum Geo-Services ASA		8,449
	292,611	e	Petrominerales Ltd		2,369
	622,700		Petronas Dagangan BHD		4,582
	432,787	*,e	Petroquest Energy, Inc		2,904
	194,202	e	Peyto Energy Trust		4,784
	54,768	*,e	PHI, Inc		1,723
	132,300	*	Philex Petroleum Corp		77
	2,322,137		Phillips 66		107,677
	221,944	*	Pioneer Energy Services Corp		1,729
	538,238	e	Pioneer Natural Resources Co		56,192
	304,482	*	Plains Exploration & Production Co		11,409
	363,491	*	Polarcus Ltd		395
	3,300,406		Polish Oil & Gas Co		4,195
	465,959	*	Polski Koncern Naftowy Orlen S.A.		6,620
	138,900	e	Poseidon Concepts Corp		2,064
	702,632	*	Precision Drilling Trust		5,525
	839,278	*	Premier Oil plc		4,872
	341,360		ProEx Energy Ltd		7,604
	319,605		ProSafe ASA		2,633
	265,000	*	PT ABM Investama Tbk		104
	11,272,000	*	PT Benakat Petroleum Energy		216
	10,874,000		PT Bumi Resources Tbk		824
	10,930,000	*	PT Delta Dunia Petroindo Tbk		284
	43,789,500	*	PT Energi Mega Persada Tbk		409
	1,260,500		PT Harum Energy Indonesia Tbk		774
	6,733,000		PT Indika Energy Tbk		1,134
	1,482,000		PT Indo Tambangraya Megah		6,502
	2,944,500		PT Medco Energi Internasional Tbk		524
	401,000		PT Resource Alam Indonesia Tbk		124
	11,054,634		PT Tambang Batubara Bukit Asam Tbk		18,646
	2,091,969		PTT Exploration & Production PCL		11,021
	1,989,050		PTT PCL		21,215
	27,500		PTT PCL (ADR)		293
	315,896		Questar Market Resources, Inc		10,001

70

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	413,528	*,e	Quicksilver Resources, Inc	$	1,691
	346,481		Range Resources Corp		24,209
	308,610	*,e	Red Fork Energy Ltd		233
	245,600	*	Refinaria de Petroleos de Manguinhos S.A.		93
	1,156,654		Refineria La Pampilla S.A. Relapasa		294
	2,211,742		Reliance Industries Ltd		35,043
	35,504	*,e	Renewable Energy Group, Inc		236
	814,334	*	Rentech, Inc		2,003
	1,037,181		Repsol YPF S.A.		20,157
	172,318	*,e	Resolute Energy Corp		1,528
	155,378	*,e	Rex Energy Corp		2,074
	23,164	*	Rex Stores Corp		417
	45,217	*,e	RigNet, Inc		837
	1,755,492	*	Roc Oil Co Ltd		663
	370,058	*	Rockhopper Exploration plc		1,043
	474,095	*	Rosetta Resources, Inc		22,709
	2,856,874	f	Rosneft Oil Co (GDR) (purchased 02/15/10, cost $19,529)		19,266
	469,617	*	Rowan Cos PLC		15,859
	5,973,942		Royal Dutch Shell plc (A Shares)		207,034
	4,119,426		Royal Dutch Shell plc (B Shares)		146,594
	130,914	e	RPC, Inc		1,557
	2,476,000	*	Ruifeng Petroleum Chemical Holdings Ltd		26
	161,470	*	RusPetro plc		278
	1,529,731		Saipem S.p.A.		73,718
	333,027	*	Salamander Energy plc		1,076
	582,367	*,e	San Leon Energy plc		97
	83,000		San-Ai Oil Co Ltd		379
	41,971	*,e	Sanchez Energy Corp		857
	869,161	*,e	SandRidge Energy, Inc		6,058
	590,027		Santos Ltd		6,922
	3,671,500	*	Sapurakencana Petroleum BHD		2,778
	404,937	*	Saras S.p.A.		514
	67,005	*,e	Saratoga Resources, Inc		367
	1,138,563		Sasol Ltd		50,768
	192,238	e	Savanna Energy Services Corp		1,541
	70,182		SBM Offshore NV		1,000
	5,810,952		Schlumberger Ltd		420,305
	15,236	e	Schoeller-Bleckmann Oilfield Equipment AG.		1,583
	569,500	*	Scomi Group BHD		72
	136,006	*,e	Scorpio Tankers, Inc		816
	53,669		SEACOR Holdings, Inc		4,474
	174,512	e	SeaDrill Ltd		6,856
	131,300	*	Secure Energy Services, Inc		1,353
	150,007	*	SemGroup Corp		5,528
	909,254	*,e	Senex Energy Ltd		604
	50	*	Serval Integrated Energy Services		0	^
	334,447	*,e	Sevan Drilling AS.		336
	219,200		Shandong Molong Petroleum Machinery Co Ltd		72
	103,553		ShawCor Ltd		4,496
	1,522,500		Shengli Oil&Gas Pipe Holdings Ltd		119
	85,800		Shinko Plantech Co Ltd		697

71

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	178,472	e	Ship Finance International Ltd	$	2,806
	79,647		Showa Shell Sekiyu KK		421
	132,800		Siamgas & Petrochemicals PCL		62
	94,000		Sinanen Co Ltd		424
	8,240,000	*	Sino Union Energy Investment Group Ltd		530
	584,000	e	Sinopec Kantons Holdings Ltd		481
	122,256		SK Energy Co Ltd		18,370
	11,450		SK Gas Co Ltd		895
	537,244	*	Soco International plc		2,869
	72,954		S-Oil Corp		6,889
	300,660	*,e	Solazyme, Inc		3,452
	168,771	*	Songa Offshore SE		356
	446,700	*	Southern Pacific Resource Corp		636
	109,200	*	SouthGobi Resources Ltd		228
	1,015,654	*	Southwestern Energy Co		35,324
	2,304,290	e	Spectra Energy Corp		67,654
	109,222	*	Sprott Resource Corp		439
	168,302		St. Mary Land & Exploration Co		9,107
	1,203,801		Statoil ASA		31,066
	189,270	*	Stone Energy Corp		4,754
	859,000		Straits Asia Resources Ltd		1,300
	3,170,733		Suncor Energy, Inc		104,304
	2,240,098	e	Suncor Energy, Inc (NY)		73,587
	692,934	e	Sunoco, Inc		32,450
	435,704	*	Superior Energy Services		8,941
	89,300	*	Surge Energy, Inc		696
	2,210,303		Surgutneftegaz (ADR)		20,032
	339,700	e	Surgutneftegaz (ADR) (London)		3,093
	1,504,000	*,e	Swiber Holdings Ltd		806
	209,758	*,e	Swift Energy Co		4,380
	139,407	*,e	Synergy Resources Corp		581
	70,300	*	TAG Oil Ltd		516
	1,047,609		Talisman Energy, Inc		14,002
	148,235		Targa Resources Investments, Inc		7,462
	496,965	e	Tatneft (GDR)		20,672
	341,024		Technip S.A.		37,892
	266,875	e	Tecnicas Reunidas S.A.		12,436
	83,096		Teekay Corp		2,593
	228,791	e	Teekay Tankers Ltd (Class A)		856
	381,700		Tenaris S.A.		7,811
	130,601	*	Tesco Corp		1,395
	624,296		Tesoro Corp		26,158
	478,735	*	Tetra Technologies, Inc		2,896
	53,878	*,e	TGC Industries, Inc		388
	252,661		TGS Nopec Geophysical Co ASA		8,239
	1,310,300		Thai Oil PCL		2,772
	91,514		Tidewater, Inc		4,441
	2,800,000	*,m	Titan Petrochemicals Group Ltd		4
	126,863	f	TMK OAO (GDR) (purchased 06/17/10, cost $1,967)		1,934
	138,931		TonenGeneral Sekiyu KK		1,205
	66,900		Total Energy Services, Inc		1,083
	2,315,711	*,e	Total S.A.		115,206

72

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	104,260	*	Tourmaline Oil Corp	$	3,255
	162,000		Toyo Kanetsu K K		332
	1,138,548	e	TransCanada Corp		51,814
	186,400	*	TransGlobe Energy Corp		2,029
	599,479		Transocean Ltd		26,838
	996,232		Transocean Ltd-NYSE		44,721
	259,202	*,e	Triangle Petroleum Corp		1,856
	213,586	e	Trican Well Service Ltd		2,779
	73,580	e	Trilogy Energy Corp		1,919
	298,766	e	Trinidad Drilling Ltd		2,082
	4,771,700		Tullow Oil plc		105,856
	199,355		Tupras Turkiye Petrol Rafine		4,552
	298,154		Turcas Petrolculuk AS		475
	454,300		Twin Butte Energy Ltd		1,317
	278,381	*,e	Ultra Petroleum Corp		6,119
	544,800		Ultrapar Participacoes S.A.		12,257
	63,632	*	Union Drilling, Inc		413
	86,329	*	Unit Corp		3,583
	242,256	*,e	Uranerz Energy Corp		395
	302,092	*,e	Uranium Energy Corp		788
	650,654	e	Uranium One, Inc		1,555
	321,310	*	Vaalco Energy, Inc		2,747
	1,974,835		Valero Energy Corp		62,563
	89,431	*	Valiant Petroleum plc		615
	674,985	*,e	Vantage Drilling Co		1,242
	132,203	*,e	Venoco, Inc		1,571
	26,628	*	Verbio AG.		62
	262,600	e	Veresen, Inc		3,443
	322,302	e	Vermilion Energy Trust		15,146
	147,189		W&T Offshore, Inc		2,764
	2,338,400		Wah Seong Corp BHD		1,335
	384,072	*	Warren Resources, Inc		1,168
	2,058,032	*	Weatherford International Ltd		26,096
	117,713	*,e	West Siberian Resources Ltd (GDR)		931
	113,800		Western Energy Services Corp		926
	365,913	e	Western Refining, Inc		9,580
	53,900	*	Westfire Energy Ltd		224
	41,088	*,e	Westmoreland Coal Co		408
	242,127	*,e	White Energy Co Ltd		82
	155,600	*	Whitecap Resources, Inc		1,170
	350,234	e	Whitehaven Coal Ltd		1,032
	277,305	*	Whiting Petroleum Corp		13,139
	432,368	*	Willbros Group, Inc		2,322
	3,426,772		Williams Cos, Inc		119,834
	482,772		Woodside Petroleum Ltd		16,515
	170,952		World Fuel Services Corp		6,088
	429,197		WorleyParsons Ltd		12,523
	485,842	*	WPX Energy, Inc		8,060
	204,128	*,e	Xcite Energy Ltd		360
	421,571	*,e	Xenolith Resources Ltd		303
	6,508,000	e	Yanzhou Coal Mining Co Ltd		9,801
	75,800	e	Zargon Energy Trust		709

73

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	152,977	*,e	ZaZa Energy Corp	$	454
			TOTAL ENERGY		10,639,735
FOOD & STAPLES RETAILING - 1.6%
	604,909	e	Aeon Co Ltd		6,831
	11,900	e	Ain Pharmaciez Inc		850
	344,576		Alimentation Couche Tard, Inc		15,836
	530,872		Almacenes Exito S.A.		8,701
	80,631		Andersons, Inc		3,037
	36,379		Arcs Co Ltd		843
	4,438	e	Arden Group, Inc (Class A)		431
	28,786	e	Axfood AB		1,082
	124,000		Beijing Jingkelong Co Ltd		61
	146,425		BIM Birlesik Magazalar AS		6,109
	39,862		Bizim Toptan Satis Magazalari AS		507
	12,492		Blue Square-Israel Ltd		24
	3,169,391		Booker Group plc		4,783
	386,768		Brazil Pharma S.A.		2,318
	474,188		Carrefour S.A.		9,836
	147,805		Casey’s General Stores, Inc		8,446
	150,735		Casino Guichard Perrachon S.A.		13,333
	16,600		Cawachi Ltd		346
	1,483,448		Centros Comerciales Sudamericanos S.A.		8,985
	61,178	*	Chefs’ Warehouse Holdings, Inc		1,002
	6,967,300		China Resources Enterprise		23,184
	179,606		Cia Brasileira de Distribuicao Grupo Pao de Acucar		8,022
	769,420		Clicks Group Ltd		5,334
	40,260		Cocokara Fine Holdings, Inc		1,404
	35,240	e	Colruyt S.A.		1,535
	9,900		Cosmos Pharmaceutical Corp		909
	1,902,520		Costco Wholesale Corp		190,490
	11,150,000		CP Seven Eleven PCL		12,824
	8,400		Create SD Holdings Co Ltd		238
	3,546,949		CVS Corp		171,743
	5,900		Daikokutenbussaan Co Ltd		182
	127,950		Delhaize Group		4,942
	2,382,539		Distribuidora Internacional de Alimentacion S.A.		13,158
	16,441		Dongsuh Co, Inc		470
	28,953		E-Mart Co Ltd		6,300
	76,488		Empire Co Ltd		4,604
	64,567		Eurocash S.A.		795
	86,374		FamilyMart Co Ltd		4,244
	85,963	*,e	Fresh Market, Inc		5,156
	64,850	e	George Weston Ltd		4,172
	206,532		Greggs plc		1,675
	8,030		Growell Holdings Co Ltd		261
	112,073	e	Hakon Invest AB		1,933
	210,070		Harris Teeter Supermarkets, Inc		8,159
	40,500		Heiwado Co Ltd		587
	3,993,410		Heng Tai Consumables Group Ltd		82
	3,032	*	Indiabulls Wholesale Service		1
	49,266		Ingles Markets, Inc (Class A)		805

74

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	5,600		Itochu-Shokuhin Co Ltd	$	209
	138,741		Izumiya Co Ltd		705
	3,413,613		J Sainsbury plc		19,184
	220,936		Jean Coutu Group PJC, Inc		3,198
	295,165		Jeronimo Martins SGPS S.A.		4,928
	52,100		Kasumi Co Ltd		346
	41,700		Kato Sangyo Co Ltd		799
	28,883	e	Kesko Oyj (B Shares)		819
	3,093,320		Koninklijke Ahold NV		38,742
	3,339,808	e	Kroger Co		78,619
	52,859		Lawson, Inc		4,058
	325,000	e	Lianhua Supermarket Holdings Co Ltd		257
	28,100	e	Liquor Stores Income Fund		535
	144,561	e	Loblaw Cos Ltd		5,023
	771,310	e,f	Magnit OAO (GDR) (purchased 05/26/10, cost $20,498)		26,268
	101,579		Majestic Wine plc		738
	66,767		MARR S.p.A.		643
	43,233		Maruetsu, Inc		150
	145,249		Massmart Holdings Ltd		2,912
	99,966	e	Matsumotokiyoshi Holdings Co Ltd		2,466
	241,214	e	Metcash Ltd		883
	356,304		Metro AG.		10,675
	245,188	e	Metro, Inc		14,565
	15,500		Ministop Co Ltd		258
	44,617	e	Nash Finch Co		911
	22,700	*	Natural Grocers by Vitamin C		507
	90,219		North West Co Fund		2,043
	143,610	f	O’Key Group S.A. (GDR) (purchased 12/06/11, cost $1,231)		1,379
	41,000		Okuwa Co Ltd		620
	1,444,810	e	Olam International Ltd		2,397
	160,488	*,e	Pantry, Inc		2,335
	569,651		Pick’n Pay Holdings Ltd		1,397
	308,712		Pick’n Pay Stores Ltd		1,656
	1,337,320		President Chain Store Corp		7,139
	77,239		Pricesmart, Inc		5,849
	1,218,000		PT Sumber Alfaria Trijaya Tbk		699
	397,000		Puregold Price Club, Inc		282
	478,472		Raia Drogasil S.A.		5,497
	152,019		Rallye S.A.		4,605
	7,417		Rami Levi Chain Stores Hashikma Marketing 2006 Ltd		227
	3,344,770	*	Rite Aid Corp		3,913
	107,209	e	Roundy’s, Inc		649
	21,779		Ryoshoku Ltd		568
	18,500		S Foods, Inc		175
	364,191	e	Safeway, Inc		5,860
	10,200		San-A Co Ltd		408
	1,600,219		Seven & I Holdings Co Ltd		49,036
	533,000		Sheng Siong Group Ltd		201
	291,911	e	Shoppers Drug Mart Corp		12,153
	830,363		Shoprite Holdings Ltd		16,777
	101,941		Shufersal Ltd		248

75

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	49,722		Sligro Food Group NV	$	1,236
	242,111		Spar Group Ltd		3,722
	81,162	e	Spartan Stores, Inc		1,243
	49,300		Sugi Pharmacy Co Ltd		1,731
	2,743,000	e	Sun Art Retail Group Ltd		3,404
	45,300		Sundrug Co Ltd		1,645
	1,045,984	e	Supervalu, Inc		2,521
	41,818	*	Susser Holdings Corp		1,513
	836,208	e	Sysco Corp		26,148
	474,000		Taiwan TEA Corp		264
	12,045,678		Tesco plc		64,685
	672,991		Total Produce plc		424
	51,188		Tsuruha Holdings, Inc		3,830
	199,765	*	United Natural Foods, Inc		11,676
	579,500		UNY Co Ltd		4,494
	43,500	e	Valor Co Ltd		721
	36,222	e	Village Super Market (Class A)		1,332
	2,580,699		Walgreen Co		94,041
	9,431,521		Wal-Mart de Mexico S.A. de C.V. (Series V)		26,532
	5,133,709	e	Wal-Mart Stores, Inc		378,868
	38,112		Weis Markets, Inc		1,613
	1,740,025		Wesfarmers Ltd		61,583
	886,544		Whole Foods Market, Inc		86,349
	1,124,865		WM Morrison Supermarkets plc		5,186
	1,345,158		Woolworths Ltd		40,055
	831,999	*	Wumart Stores, Inc		1,240
	8,600	e	Yaoko Co Ltd		331
	54,000	e	Yokohama Reito Co Ltd		396
			TOTAL FOOD & STAPLES RETAILING		1,737,864
FOOD, BEVERAGE & TOBACCO - 5.7%
	37,921		AarhusKarlshamn AB		1,436
	323,209		Afgri Ltd		202
	95,862	*	AGV Products Corp		33
	720,181		Ajinomoto Co, Inc		11,280
	17,871	e	Alico, Inc		558
	328,667		Alicorp S.A.		886
	14,816	e	Alliance Grain Traders, Inc		218
	304,712	*,e	Alliance One International, Inc		984
	10,670,554		Altria Group, Inc		356,290
	32,297	e	Amsterdam Commodities NV		560
	281,416		Anadolu Efes Biracilik Ve Malt Sanayii AS		4,181
	2,974	*	Anheuser-Busch InBev NV		0	^
	139,461	*,e	Annie’s, Inc		6,253
	76,655	*	AquaChile S.A.		53
	1,910,989		Archer Daniels Midland Co		51,941
	20,300	e	Ariake Japan Co Ltd		454
	21,564		Aryzta AG.		1,035
	554,561		Asahi Breweries Ltd		13,676
	32,559		Asian Bamboo AG.		254
	1,227,624	e	Asian Citrus Holdings Ltd		628
	303,200		Asiatic Development BHD		913

76

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	1,416,292		Associated British Foods plc	$	29,512
	78,651		Astral Foods Ltd		983
	16,936		Atria Group plc		113
	771,000	m	Ausnutria Dairy Corp Ltd		73
	200,030		Austevoll Seafood ASA		906
	311,861	*	Australian Agricultural Co Ltd		413
	798,330		AVI Ltd		5,732
	180,589		B&G Foods, Inc (Class A)		5,474
	1,060,945		Bajaj Hindusthan Ltd		638
	45,833		Bakkafrost P		375
	179,659		Balrampur Chini Mills Ltd		229
	1,960		Barry Callebaut AG.		1,820
	857,336		Beam, Inc		49,331
	217,000	e	Besunyen Holdings		15
	14,822		Binggrae Co Ltd		1,407
	344,500	e	Biostime Internatonal Holdings Ltd		879
	91,948	*,e	Black Earth Farming Ltd		171
	7,145		Bonduelle S.C.A.		613
	27,919	*,e	Boston Beer Co, Inc (Class A)		3,126
	6,400		Britannia Industries Ltd		58
	219,300		British American Tobacco Malaysia BHD		4,328
	3,229,963		British American Tobacco plc		165,966
	365,590		Britvic plc		2,152
	422,879		Brown-Forman Corp (Class B)		27,593
	783,841		Bunge Ltd		52,557
	551,857		C&C Group plc		2,626
	43,457	e	Calavo Growers, Inc		1,086
	19,200	e	Calbee, Inc		1,683
	88,024	e	Cal-Maine Foods, Inc		3,956
	671,466	e	Campbell Soup Co		23,380
	22,351		Campofrio Alimentacion S.A.		168
	312,663		Carlsberg AS (Class B)		27,699
	187,500		Carlsberg Brewery-Malay BHD		704
	82,161		Casa Grande S.A.		468
	248,629	*,e	Central European Distribution Corp		709
	67,625		Cermaq ASA		885
	959,000		Changshouhua Food Co Ltd		443
	4,063,700		Charoen Pokphand Foods PCL		4,417
	281,200		Charoen Pokphand Foods PCL (ADR)		306
	2,483,700		China Agri-Industries Holdings Ltd		1,396
	840,000	e	China Green Holdings Ltd		195
	1,273,500	e	China Huiyuan Juice Group Ltd		383
	1,666,000		China Mengniu Dairy Co Ltd		4,977
	365,292	*,e	China Minzhong Food Corp Ltd		240
	1,551,000	*,e	China Modern Dairy Holdings		403
	5,760,000		China Starch Holdings Ltd		151
	1,580,000		China Tontine Wines Group Ltd		148
	1,944,000	e	China Yurun Food Group Ltd		1,388
	164,450	*	Chiquita Brands International, Inc		1,256
	257,790		Cia Cervecerias Unidas S.A.		3,681
	1,480,926	*	Cia Pesquera Camanchaca S.A.		73
	11,247		CJ CheilJedang Corp		3,103

77

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	67,016		Clover Industries Ltd	$	111
	42,782		Coca Cola Hellenic Bottling Co S.A.		798
	211,259		Coca-Cola Amatil Ltd		2,966
	26,653		Coca-Cola Bottling Co Consolidated		1,815
	63,900		Coca-Cola Central Japan Co Ltd		825
	18,652,302		Coca-Cola Co		707,481
	1,233,191		Coca-Cola Enterprises, Inc		38,562
	544,487	e	Coca-Cola Femsa S.A. de C.V.		7,044
	153,930		Coca-Cola Icecek AS		2,878
	35,767		Coca-Cola West Japan Co Ltd		593
	1,315,000		Cofco International Ltd		1,359
	654,803		ConAgra Foods, Inc		18,066
	1,089,973	*	Constellation Brands, Inc (Class A)		35,261
	41,112	e	Copeinca ASA		340
	194,900	*	Cott Corp		1,540
	42,386	*,e	Craft Brewers Alliance, Inc		333
	900		Crown Confectionery Co Ltd		166
	88,800	e	CSM		1,578
	8,377,415	*	D.E Master Blenders 1753 NV		101,021
	503,000		DaChan Food Asia Ltd		71
	2,160		Dae Han Flour Mills Co Ltd		257
	90,740		Daesang Corp		1,907
	185,753		Dairy Crest Group plc		1,041
	1,298,000	*,e,m	Daqing Dairy Holdings Ltd		141
	598,916	*	Darling International, Inc		10,954
	398,971		Davide Campari-Milano S.p.A.		3,141
	3,023,437	*,e	Dean Foods Co		49,433
	370,826		Devro plc		1,966
	3,971,021		Diageo plc		111,817
	53,287	*	Diageo plc (ADR)		6,007
	82,278	e	Diamond Foods, Inc		1,548
	126,690	*,e	Dole Food Co, Inc		1,777
	4,594		Dongwon F&B Co Ltd		288
	5,708		Dongwon Industries Co Ltd		1,537
	433,699		Dr Pepper Snapple Group, Inc		19,313
	18,100		Dydo Drinco, Inc		824
	1,214,000	e	Dynasty Fine Wines Group Ltd		194
	14,761		East Asiatic Co Ltd AS		316
	104,971		Ebro Puleva S.A.		1,846
	654,358	e	Embotelladoras Arca SAB de C.V.		4,651
	5,265,492		Empresas Iansa S.A.		394
	87,464	e	Ezaki Glico Co Ltd		1,082
	32,163	*,e	Farmer Bros Co		306
	1,352,600		Felda Global Ventures Holdings BHD		2,137
	1,116,000	e	First Resources Ltd		1,915
	285,833		Flowers Foods, Inc		5,768
	4,395,033	e	Fomento Economico Mexicano S.A. de C.V.		40,482
	145,280		Fresh Del Monte Produce, Inc		3,719
	76,373		Fuji Oil Co Ltd		1,067
	35,832		Fujicco Co Ltd		479
	150,000	*,e	Fujiya Co Ltd		374
	1,466,905	e	General Mills, Inc		58,456

78

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	301,200		GFPT PCL	$	71
	311,381		Glanbia plc		2,761
	5,720,000	e	Global Bio-Chem Technology Group Co Ltd		600
	1,018,000	*,e	Global Sweeteners Holdings Ltd		65
	3,608,000		GMG Global Ltd		399
	22,168,074		Golden Agri-Resources Ltd		11,851
	3,390,590		Goodman Fielder Ltd		1,756
	761,693		GrainCorp Ltd-A		7,085
	649,517		Great Wall Enterprise Co		600
	775,304	*,e	Green Mountain Coffee Roasters, Inc		18,413
	864,579		Greencore Group plc		1,118
	11,592	e	Griffin Land & Nurseries, Inc (Class A)		391
	913,580		Groupe Danone		56,212
	622,900	*,e	Gruma SAB de C.V.		1,762
	2,251,528	e	Grupo Bimbo S.A. de C.V. (Series A)		5,604
	290,200	e	Grupo Herdez SAB de C.V.		747
	1,400,794	e	Grupo Modelo S.A. (Series C)		12,627
	561,277	e	H.J. Heinz Co		31,403
	196,813	*	Hain Celestial Group, Inc		12,399
	225,000		Hap Seng Plantations Holdings BHD		209
	98,254		Harim & Co Ltd		295
	132,943		Heineken Holding NV		6,458
	263,104		Heineken NV		15,684
	1,763,737		Hershey Co		125,031
	790,000		Hey Song Corp		1,292
	318,120		Hillshire Brands Co		8,519
	21,910		Hite Holdings Co Ltd		202
	43,508	e	HKScan Oyj		201
	24,200	e	Hokuto Corp		512
	178,938		Hormel Foods Corp		5,232
	85,952	e	House Foods Corp		1,454
	250,500		IJM Plantations BHD		282
	319,050		Illovo Sugar Ltd		1,169
	2,109,832		Imperial Tobacco Group plc		78,162
	1,220,523		InBev NV		104,414
	674,978	e	Indofood Agri Resources Ltd		747
	1,158,537		Ingredion, Inc		63,905
	77,020	*	Inventure Foods, Inc		438
	4,125,376		IOI Corp BHD		6,707
	4,562,425		ITC Ltd		23,506
	167,300	e	Ito En Ltd		3,339
	188,000	e	Itoham Foods, Inc		823
	66,234		J&J Snack Foods Corp		3,797
	179,337		J.M. Smucker Co		15,482
	1,980,700		Japan Tobacco, Inc		59,290
	1,816,221	*	JBS S.A.		6,020
	28,490	*	John B. Sanfilippo & Son, Inc		371
	238,000	e	J-Oil Mills, Inc		661
	588,125		Juhayna Food Industries		555
	122,373	e	Kagome Co Ltd		2,805
	1,517,865		Kellogg Co		78,413
	124,756	*	Kernel Holding S.A.		2,532

79

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	211,495		Kerry Group plc (Class A)	$	10,830
	20,200	e	KEY Coffee, Inc		395
	2,170,900		Khon Kaen Sugar Industry PCL		901
	52,560		Kikkoman Corp		718
	812,000		Kingway Brewery Holdings Ltd		246
	988,358		Kirin Brewery Co Ltd		13,216
	94,664	e	Koninklijke Wessanen NV		252
	1,027		Kook Soon Dang Brewery Co Ltd		8
	6,428,515		Kraft Foods, Inc (Class A)		265,819
	249,761		KT&G Corp		19,034
	1,086,173		Kuala Lumpur Kepong BHD		7,830
	1,450,000		Kulim Malaysia BHD		2,333
	2,596		KWS Saat AG.		693
	66,356		Lancaster Colony Corp		4,861
	206,827		Lance, Inc		5,171
	25,616		Leroy Seafood Group ASA		537
	342,987		Lien Hwa Industrial Corp		229
	22,775	e	Lifeway Foods, Inc		216
	32,347	e	Limoneira Co		596
	286		Lindt & Spruengli AG.		905
	120		Lindt & Spruengli AG. (Reg)		4,334
	1,513,602		Lorillard, Inc		176,259
	1,362		Lotte Chilsung Beverage Co Ltd		1,690
	854		Lotte Confectionery Co Ltd		1,193
	2,911		Lotte Samkang Co Ltd		1,493
	7,627		Maeil Dairy Industry Co Ltd		205
	147,879		Maple Leaf Foods, Inc		1,667
	181,000		Marfrig Alimentos S.A.		1,054
	225,317		Marudai Food Co Ltd		834
	1,238,000		Maruha Nichiro Holdings, Inc		1,991
	359,450		McCormick & Co, Inc		22,300
	75,219		McLeod Russel India Ltd		460
	1,386,837		Mead Johnson Nutrition Co		101,627
	55,700	e	Megmilk Snow Brand Co Ltd		986
	59,081	e	MEIJI Holdings Co Ltd		2,932
	11,500	e	Meito Sangyo Co Ltd		156
	404,000	e	Mewah International, Inc		147
	180,045	*,f	MHP SA (GDR) (purchased 01/07/11, cost $2,761)		2,626
	58,100	e	Mikuni Coca-Cola Bottling Co Ltd		509
	225,300		Minerva S.A.		1,249
	124,000		Mitsui Sugar Co Ltd		412
	188,028		Molson Coors Brewing Co (Class B)		8,471
	1,644,356	*	Monster Beverage Corp		89,058
	236,302		Morinaga & Co Ltd		544
	259,000		Morinaga Milk Industry Co Ltd		881
	95,189	*,e	Morpol ASA		146
	299,900		MSM Malaysia Holdings BHD		480
	16,956		Muhak Co Ltd		194
	1,728,489		Multiexport Foods S.A.		374
	46,000		Namchow Chemical Industrial Ltd		48
	1,319		Namyang Dairy Products Co Ltd		1,227
	40,143		National Beverage Corp		609

80

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	4,812		Naturex	$	328
	4,553,688		Nestle S.A.		287,325
	937,000		Nichirei Corp		5,131
	152,000		Nippon Beet Sugar Manufacturing Co Ltd		295
	283,000		Nippon Flour Mills Co Ltd		1,262
	55,594		Nippon Meat Packers, Inc		713
	314,766	e	Nippon Suisan Kaisha Ltd		676
	308,000	e	Nisshin Oillio Group Ltd		1,207
	84,308	e	Nisshin Seifun Group, Inc		1,036
	19,935	e	Nissin Food Products Co Ltd		781
	6,573		Nong Shim Co Ltd		1,568
	5,256		Nong Shim Holdings Co Ltd		275
	65,835		Nutreco Holding NV		4,877
	170,071	*	Omega Protein Corp		1,167
	4,581		Orion Corp		3,999
	55,050		Osem Investments Ltd		759
	4,915		Ottogi Corp		1,098
	2,463,166	e	Pacific Andes International Holdings Ltd		123
	7,249,836	e	PAN Fish ASA		5,851
	4,920,931		PepsiCo, Inc		348,253
	893,471		Perdigao S.A.		15,430
	374,064		Pernod-Ricard S.A.		41,959
	35,166		Pescanova S.A.		584
	777,000		Petra Foods Ltd		1,551
	354,451	*	PGG Wrightson Ltd		103
	1,400		Philip Morris CR		811
	9,995,333		Philip Morris International, Inc		898,979
	461,029	*,e	Pilgrim’s Pride Corp		2,356
	56,539		Pinar SUT Mamulleri Sanayii AS		472
	125,402	*	Post Holdings, Inc		3,770
	635,020		PPB Group BHD		2,503
	273,490	*,e	Premier Foods plc		283
	20,700	e	Premium Brands Holdings Corp		378
	180,000		Prima Meat Packers Ltd		330
	436,724		PT Astra Agro Lestari Tbk		998
	2,761,000		PT Bisi International		313
	5,799,000		PT BW Plantation Tbk		908
	9,649,000		PT Charoen Pokphand Indonesia Tbk		3,035
	635,500		PT Gudang Garam Tbk		3,071
	12,244,100		PT Indofood Sukses Makmur Tbk		7,208
	1,919,500		PT Japfa Comfeed Indonesia Tbk		939
	1,512,500		PT Sampoerna Agro Tbk		457
	2,768,500		PT Tunas Baru Lampung Tbk		147
	211,000	e	Q.P. Corp		3,530
	852,700		QL Resources BHD		878
	19,517		Radico Khaitan Ltd		44
	320,309	*,e	Ralcorp Holdings, Inc		23,383
	833,359		REI Agro Ltd		167
	871,079		Remy Cointreau S.A.		100,159
	892,414	e	Reynolds American, Inc		38,677
	276,500		Rimbunan Sawit BHD		87
	22,458		Royal UNIBREW AS		1,721

81

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	82,634		Ruchi Soya Industries Ltd	$	117
	194,188		SABMiller plc		8,544
	8,263		Sajo Industries Co Ltd		463
	42,355		Sakata Seed Corp		565
	4,615		Samyang Genex Co Ltd		238
	10,662		Samyang Holdings Corp		632
	110,134	e	Sanderson Farms, Inc		4,887
	77,600		Sao Martinho S.A.		916
	1,469,000	e	Sapporo Holdings Ltd		4,096
	212,625	e	Saputo, Inc		9,138
	34,616	*	Seneca Foods Corp		1,034
	370,100	*	Shanghai Dajiang Group		96
	158,000		Showa Sangyo Co Ltd		540
	1,374,268		Shree Renuka Sugars Ltd		938
	16,700		Silla Co Ltd		330
	12,403		Sipef S.A		1,024
	163,700		SLC Agricola S.A.		1,756
	231,518	*,e	Smart Balance, Inc		2,797
	435,044	*	Smithfield Foods, Inc		8,549
	2,626		Societa per la Bonifica dei Terreni Ferraresi e Imprese Agricole S.p.A.		132
	711,704	*	SOS Cuetara S.A.		325
	833,055		Souza Cruz S.A.		11,301
	817,680		Standard Foods Corp		2,264
	522,458	*,e	Star Scientific, Inc		1,808
	43,408		Strauss Group Ltd		466
	195,346	e	Suedzucker AG.		6,920
	397,000		Super Coffeemix Manufacturing Ltd		708
	557,111		Swedish Match AB		22,553
	79,544	*,e	Synutra International, Inc		367
	19,096		Taisun Enterprise Co Ltd		11
	78,000		Taiyen Biotech Co Ltd		60
	241,000		Takara Holdings, Inc		1,781
	224,013	e	Tassal Group Ltd		314
	156,384	*	TAT Konserve		219
	250,835		Tata Tea Ltd		679
	4,642,252		Tate & Lyle plc		49,932
	416,400		TH Plantations BHD		324
	467,400		Thai Vegetable Oil PCL		365
	493,000	e	Tibet 5100 Water Resources Holdings Ltd		128
	294,471		Tiger Brands Ltd		9,659
	2,638,000	e	Tingyi Cayman Islands Holding Corp		7,911
	151,761		Tongaat Hulett Ltd		2,548
	85,086	e	Tootsie Roll Industries, Inc		2,296
	169,942		Toyo Suisan Kaisha Ltd		4,252
	98,400		Tradewinds Malaysia BHD		232
	967,064		Treasury Wine Estates Ltd		5,027
	159,419	*	TreeHouse Foods, Inc		8,369
	9,130		TS Corp		231
	464,000	e	Tsingtao Brewery Co Ltd		2,551
	759,925		Tyson Foods, Inc (Class A)		12,174
	150,273		Ulker Biskuvi Sanayi AS		637

82

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	2,771,023		Unilever NV	$	98,277
	178,000		Unilever NV (ADR)		6,315
	2,216,155		Unilever plc		80,916
	3,296,000	e	Uni-President China Holdings Ltd		3,789
	6,027,147		Uni-President Enterprises Corp		10,649
	4,395	e	United International Enterprises		738
	5,400		United Malacca BHD		13
	297,045		United Spirits Ltd		6,823
	115,712	e	Universal Corp		5,892
	1,925,450		Universal Robina		3,211
	151,000		Ve Wong Corp		115
	193,774	e	Vector Group Ltd		3,215
	6,887	e	Vilmorin & Cie		829
	543,818		Vina Concha Y Toro S.A.		1,136
	120,579		Viscofan S.A.		5,522
	1,402,000		Vitasoy International Holdings Ltd		1,223
	386,574		Viterra, Inc		6,335
	2,369		Vranken - Pommery Monopole		78
	7,704,000		Want Want China Holdings Ltd		9,807
	414,000		Wei Chuan Food Corp		497
	462,927	*,e	Westway Group, Inc		2,866
	2,498,188		Wilmar International Ltd		6,596
	1,618,000		Xiwang Sugar Holdings Co Ltd		161
	119,892	e	Yakult Honsha Co Ltd		5,685
	86,942		Yamazaki Baking Co Ltd		1,164
	2,200,000		Yantai North Andre Juice Co		88
	1,490,000	e	YASHILI INTERNATIONAL		281
	40,900		Yonekyu Corp		352
	378,554		Zeder Investments Ltd		123
			TOTAL FOOD, BEVERAGE & TOBACCO		5,983,340
HEALTH CARE EQUIPMENT & SERVICES - 3.2%
	82,157	*,e	Abaxis, Inc		2,951
	121,741	*,e	Abiomed, Inc		2,555
	96,881	*	Acadia Healthcare Co, Inc		2,311
	234,929	*,e	Accretive Health, Inc		2,622
	259,071	*,e	Accuray, Inc		1,834
	261,700	e	Advanced Medical Solutions Group plc		335
	1,251,876		Aetna, Inc		49,575
	237,884	*	AGFA-Gevaert NV		397
	62,626	*	AGFA-Gevaert NV Brussels		0	^
	93,669	*	Air Methods Corp		11,181
	111,258		Alfresa Holdings Corp		5,481
	342,337	*,e	Align Technology, Inc		12,656
	412,639	*	Allscripts Healthcare Solutions, Inc		5,129
	54,863	*	Almost Family, Inc		1,167
	223,459	*,e	Alphatec Holdings, Inc		369
	158,213	*,e	Amedisys, Inc		2,185
	67,788	*	Amerigroup Corp		6,198
	1,054,942	e	AmerisourceBergen Corp		40,837
	159,600		Amil Participacoes S.A.		1,917
	145,055	*,e	AMN Healthcare Services, Inc		1,459

83

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	101,232		Amplifon S.p.A.	$	431
	136,021	*	Amsurg Corp		3,860
	68,390		Analogic Corp		5,346
	55,948	*	Andor Technology Ltd		367
	107,124	*	Angiodynamics, Inc		1,307
	61,968	*	Anika Therapeutics, Inc		931
	186,199		Ansell Ltd		3,088
	333,422	*,e	Antares Pharma, Inc		1,454
	23,582		Apollo Hospitals Enterprise Ltd		327
	42,196		Arseus NV		782
	178,508	*	Arthrocare Corp		5,784
	11,600	e	Asahi Intecc Co Ltd		369
	67,166		Assisted Living Concepts, Inc (A Shares)		512
	135,795	*,e	athenahealth, Inc		12,462
	54,309	*,e	AtriCure, Inc		404
	5,883		Atrion Corp		1,303
	49,966		Balda AG.		320
	2,108,200		Bangkok Chain Hospital PCL		657
	189,135		Bard (C.R.), Inc		19,793
	3,637,697		Baxter International, Inc		219,207
	317,677		Becton Dickinson & Co		24,957
	88,400	*,e	Bio-Reference Labs, Inc		2,526
	160,652	*	BioScrip, Inc		1,464
	1,132,000	*,e	Biosensors International Group Ltd		1,122
	18,900		BML, Inc		494
	4,619,338	*	Boston Scientific Corp		26,515
	124,420	*	Brookdale Senior Living, Inc		2,889
	497,600		Bumrungrad Hospital PCL		1,322
	77,561	e	Cantel Medical Corp		2,100
	98,763	*,e	Capital Senior Living Corp		1,429
	2,414,210		Cardinal Health, Inc		94,083
	67,603	*,e	Cardiovascular Systems, Inc		781
	1,535,544	*	CareFusion Corp		43,594
	56,791		Carl Zeiss Meditec AG.		1,454
	2,311	*,e	Carmat		328
	1,449,313	*,e	Catamaran Corp		141,990
	194,175	*	Catamaran Corp (Toronto)		19,030
	42,229		Celesio AG.		754
	235,966	*	Centene Corp		8,827
	577,789	*	Cerner Corp		44,727
	188,798	*,e	Cerus Corp		642
	49,659	*	CHA Bio & Diostech Co Ltd		378
	74,301		Chemed Corp		5,148
	46,201	*,e	Chindex International, Inc		477
	1,045,388		Cigna Corp		49,312
	135,017	e	CML Healthcare Income Fund		1,222
	73,738	e	Cochlear Ltd		5,116
	93,836	e	Coloplast AS (Class B)		19,554
	310,538	*	Community Health Systems, Inc		9,049
	412,150		Compagnie Generale d’Optique Essilor International S.A.		38,567
	46,781		Computer Programs & Systems, Inc		2,599
	112,181	*,e	Conceptus, Inc		2,278

84

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	115,573	e	Conmed Corp	$	3,294
	292,005		Cooper Cos, Inc		27,583
	35,398	*	Corvel Corp		1,584
	330,797		Coventry Health Care, Inc		13,791
	2,033,544		Covidien plc		120,833
	26,100	m	Cremer S.A.		178
	110,741	*	Cross Country Healthcare, Inc		523
	91,908		Cruz Blanca Salud S.A.		102
	118,520	e	CryoLife, Inc		796
	26,930	*	Curexo, Inc		164
	149,976	*	Cyberonics, Inc		7,862
	64,503	*	Cynosure, Inc (Class A)		1,702
	340,921	*	DaVita, Inc		35,323
	258,485		Dentsply International, Inc		9,859
	34,407	*,e	Derma Sciences, Inc		357
	249,051	*	DexCom, Inc		3,743
	307,500		Diagnosticos da America S.A.		1,851
	42,688	e	DiaSorin S.p.A.		1,488
	18,576	e	Draegerwerk AG.		1,843
	3,411		Draegerwerk AG. & Co KGaA		291
	840,070	*	Edwards Lifesciences Corp		90,198
	410,591	e	Elekta AB (B Shares)		5,421
	111,563	*,e	Emeritus Corp		2,336
	200,767	*,e	Endologix, Inc		2,775
	63,698		Ensign Group, Inc		1,949
	131,857	*,e	EnteroMedics, Inc		481
	68,274	*,e	ePocrates, Inc		795
	35,375	*,e	Exactech, Inc		631
	104,618	*	EXamWorks, Inc		1,561
	55,000		Excelsior Medical Co Ltd		114
	4,133,045	*	Express Scripts Holding Co		259,019
	167,300	e	Extendicare, Inc		1,361
	487,900		Faber Group BHD		204
	738,225	e	Fisher & Paykel Healthcare Corp		1,407
	285,875	*,e	Five Star Quality Care, Inc		1,461
	98,200		Fleury S.A.		1,175
	89,324	*	Fortis Healthcare Ltd		173
	271,813		Fresenius Medical Care AG.		19,938
	64,644		Fresenius SE		7,506
	10,364		Galenica AG.		6,143
	197,211	*,e	Gentiva Health Services, Inc		2,232
	444,776		Getinge AB (B Shares)		13,427
	81,000		Ginko International Co Ltd		950
	22,928	*	Given Imaging Ltd		333
	30,700	*	Globus Medical, Inc		554
	460,153		GN Store Nord		7,072
	16,660,212		Golden Meditech Co Ltd		1,954
	104,947	*,e	Greatbatch, Inc		2,553
	62,600		Green Hospital Supply, Inc		1,992
	43,705	*,e	Greenway Medical Technologies		747
	123,762	*	Haemonetics Corp		9,926
	137,964	*	Hanger Orthopedic Group, Inc		3,936

85

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	176,143	*,e	Hansen Medical, Inc	$	343
	607,800		Hartalega Holdings BHD		875
	984,260		HCA Holdings, Inc		32,727
	589,686	*	Health Management Associates, Inc (Class A)		4,947
	222,499	*,e	Health Net, Inc		5,008
	723,880	*	Healthsouth Corp		17,417
	81,871	*,e	HealthStream, Inc		2,330
	187,512	*,e	Healthways, Inc		2,196
	50,238	*,e	HeartWare International, Inc		4,747
	442,015	*	Henry Schein, Inc		35,039
	78,782		Hill-Rom Holdings, Inc		2,289
	846,453		Hitachi Medical Corp		10,105
	318,032	*	HMS Holdings Corp		10,632
	38,200		Hogy Medical Co Ltd		2,046
	1,388,271	*	Hologic, Inc		28,099
	679,750		Humana, Inc		47,684
	43,572	*	ICU Medical, Inc		2,635
	276,772	*,e	Idexx Laboratories, Inc		27,497
	2,500,000	*	IHH Healthcare BHD		2,617
	22,284		Immunodiagnostic Systems Holdings plc		99
	173,327	*	Insulet Corp		3,740
	99,573	*	Integra LifeSciences Holdings Corp		4,092
	249,966	*	Intuitive Surgical, Inc		123,891
	146,697	e	Invacare Corp		2,074
	191,832	*,e	Inverness Medical Innovations, Inc		3,739
	25,315		Ion Beam Applications		175
	59,263	*	IPC The Hospitalist Co, Inc		2,708
	73,217	*,e	IRIS International, Inc		1,429
	93,000	*,e	Jeol Ltd		208
	228,773	*,e	Kindred Healthcare, Inc		2,603
	271,100		Kossan Rubber Industries		270
	1,318,500		KPJ Healthcare BHD		2,625
	153,768	*	Laboratory Corp of America Holdings		14,219
	34,138		Landauer, Inc		2,039
	434,500		Latexx Partners BHD		232
	54,691	*,e	LHC Group, Inc		1,010
	2,833,966		Life Healthcare Group Holdings Pte Ltd		10,827
	108,190	*	LifePoint Hospitals, Inc		4,628
	121,502	*	Magellan Health Services, Inc		6,271
	164,136	*,e	MAKO Surgical Corp		2,858
	7,500		Mani, Inc		272
	283,708		Masimo Corp		6,860
	6,157	*	Mauna Kea Technologies		77
	1,728,556		McKesson Corp		148,709
	277,072	*	MedAssets, Inc		4,932
	73,628		Medica		1,274
	62,700	e	Medical Facilities Corp		917
	551,978	e	Mediceo Paltac Holdings Co Ltd		7,598
	80,331	*	Medidata Solutions, Inc		3,334
	8,972	*	Mediware Information Systems		197
	3,454,177	e	Medtronic, Inc		148,944
	206,916	*,e	Merge Healthcare, Inc		792

86

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	150,865	e	Meridian Bioscience, Inc	$	2,894
	160,767	*	Merit Medical Systems, Inc		2,400
	174		Message Co Ltd		631
	156,681	*,e	Metropolitan Health Networks, Inc		1,463
	185,000		Microlife Corp		321
	719,000		Microport Scientific Corp		356
	132,078		Miraca Holdings, Inc		5,931
	171,970	*	Molina Healthcare, Inc		4,325
	46,433	*	MWI Veterinary Supply, Inc		4,953
	23,136		Nagaileben Co Ltd		363
	36,451	e	National Healthcare Corp		1,740
	9,287	e	National Research Corp		467
	173,398	*,e	Natus Medical, Inc		2,266
	87,039	*	Neogen Corp		3,717
	337,858	*,e	Neoprobe Corp		929
	1,140,722		Network Healthcare Holdings Ltd		2,449
	197,800	e	Nichii Gakkan Co		1,899
	59,200		Nihon Kohden Corp		2,055
	77,767		Nikkiso Co Ltd		959
	138,732	e	Nipro Corp		889
	166,087	e	Nobel Biocare Holding AG.		1,666
	270,349	*	NuVasive, Inc		6,194
	173,022	*,e	NxStage Medical, Inc		2,286
	361,600		Odontoprev S.A.		2,024
	2,621,600	*,e	Olympus Corp		51,183
	142,016		Omnicare, Inc		4,824
	146,095	*	Omnicell, Inc		2,031
	125,067		OPG Groep NV		2,073
	185,901	*	OraSure Technologies, Inc		2,067
	221,683	*,e	Oriola-KD Oyj (B Shares)		584
	37,628	e	Orpea		1,509
	141,858	*	Orthofix International NV		6,348
	9,784	*	Osstem Implant Co Ltd		240
	227,186		Owens & Minor, Inc		6,788
	57,490		Pacific Hospital Supply Co Ltd		171
	82,501	*	Palomar Medical Technologies, Inc		779
	49,600		Paramount Bed Holdings Co Ltd		1,629
	207,244		Patterson Cos, Inc		7,096
	36,553	*	PDI, Inc		291
	110,973	*	Pediatrix Medical Group, Inc		8,262
	4,189		Pharmaniaga BHD		10
	101,965	*,e	PharMerica Corp		1,291
	40,247		Phonak Holding AG.		4,072
	110,433	*,e	PhotoMedex, Inc		1,553
	302,000	*	Pihsiang Machinery Manufacturing Co Ltd		351
	2,087,611	e	Primary Health Care Ltd		7,800
	79,400		Profarma Distribuidora de Produtos Farmaceuticos S.A.		575
	67,079	*,e	Providence Service Corp		871
	2,600	*	Psc, Inc		145
	457,050	*,e	PSS World Medical, Inc		10,412
	149,528	e	Quality Systems, Inc		2,774
	384,999		Quest Diagnostics, Inc		24,420

87

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	99,698	*,e	Quidel Corp	$	1,887
	299,317	e	Raffles Medical Group Ltd		593
	348,086	e	Ramsay Health Care Ltd		8,653
	492,790	e	Resmed, Inc		19,943
	38,793	*,e	Rochester Medical Corp		458
	86,922	*,e	Rockwell Medical Technologies, Inc		710
	353,961	*	RTI Biologics, Inc		1,476
	502,105	e	Ryman Healthcare Ltd		1,706
	20,142		Sartorius AG.		1,601
	7,556		Sartorius Stedim Biotech		680
	425,311		Selcuk Ecza Deposu Ticaret ve Sanayi AS		485
	137,842	*	Select Medical Holdings Corp		1,548
	5,362,000	e	Shandong Weigao Group Medical Polymer Co Ltd		6,891
	1,477,700		Shanghai Pharmaceuticals Holding Co Ltd		2,727
	193,581		Shenzhen Accord Pharmaceutical Co Ltd		532
	2,891,193		Sigma Pharmaceuticals Ltd		1,913
	1,094,000	e	Sinopharm Group Co		3,492
	163,726	*	Sirona Dental Systems, Inc		9,326
	241,619	*	Skilled Healthcare Group, Inc (Class A)		1,554
	646,891		Smith & Nephew plc		7,136
	232,614	*,e	Solta Medical, Inc		730
	768		So-net M3, Inc		1,460
	427,194		Sonic Healthcare Ltd		5,984
	342,858	*	Sorin S.p.A.		776
	124,794	*	Spectranetics Corp		1,841
	1,472,367		St. Jude Medical, Inc		62,031
	79,000		St. Shine Optical Co Ltd		1,014
	170,515	*	Staar Surgical Co		1,289
	230,672		STERIS Corp		8,182
	8,659		Stratec Biomedical Systems AG.		398
	5,722	e	Straumann Holding AG.		761
	826,119		Stryker Corp		45,982
	161,529	*	Sun Healthcare Group, Inc		1,367
	209,569	*,e	Sunrise Senior Living, Inc		2,991
	1,083,600		Supermax Corp BHD		730
	107,170	*,e	SurModics, Inc		2,167
	145,954		Suzuken Co Ltd		4,839
	134,454	*,e	Symmetry Medical, Inc		1,330
	98,354		Synergy Healthcare plc		1,462
	34,363		Sysmex Corp		1,652
	155,981	*	Team Health Holdings, Inc		4,232
	49,042		Teleflex, Inc		3,376
	123,700		Tempo Participacoes S.A.		232
	1,001,300	*	Tenet Healthcare Corp		6,278
	181,116	e	Terumo Corp		7,787
	148,561	*	Thoratec Corp		5,140
	136,100	e	Toho Pharmaceutical Co Ltd		2,779
	14,700	*	Tokai Corp (GIFU)		376
	1,012,400		Top Glove Corp BHD		1,623
	56,060	*,e	Tornier BV		1,062
	362,000		Trauson Holdings Co Ltd		174
	69,609	*,e	Triple-S Management Corp (Class B)		1,455

88

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	273,748	*,e	Unilife Corp	$	854
	540,257		United Drug plc		2,042
	5,301,448		UnitedHealth Group, Inc		293,754
	135,471		Universal American Corp		1,252
	212,889		Universal Health Services, Inc (Class B)		9,735
	62,868		US Physical Therapy, Inc		1,737
	11,996		Utah Medical Products, Inc		408
	168,600	*,e	Vanguard Health Systems, Inc		2,086
	280,705	*	Varian Medical Systems, Inc		16,932
	67,436	*	Vascular Solutions, Inc		999
	224,997	*	VCA Antech, Inc		4,439
	65,500	e	VITAL KSK Holdings, Inc		660
	24,393	*,e	Vocera Communications, Inc		754
	192,857	*,e	Volcano Corp		5,510
	280,035	*	WellCare Health Plans, Inc		15,836
	1,339,091		WellPoint, Inc		77,682
	124,404		West Pharmaceutical Services, Inc		6,602
	8,536	*	William Demant Holding		765
	156,656	*,e	Wright Medical Group, Inc		3,464
	22,862		Young Innovations, Inc		894
	63,003	*,e	Zeltiq Aesthetics, Inc		355
	782,225		Zimmer Holdings, Inc		52,894
			TOTAL HEALTH CARE EQUIPMENT & SERVICES		3,378,749
HOUSEHOLD & PERSONAL PRODUCTS - 1.6%
	10,260		Able C&C Co Ltd		830
	27,700	*,e	Aderans Co Ltd		378
	5,670		Amorepacific Corp		6,020
	40,344	*	Atrium Innovations Inc		441
	1,395,412		Avon Products, Inc		22,257
	2,004,000	*,e	BaWang International Group Holding Ltd		157
	728,225		Beiersdorf AG.		53,484
	149,326	*	Central Garden and Pet Co (Class A)		1,804
	594,469		Church & Dwight Co, Inc		32,095
	178,260		Clorox Co		12,844
	2,557,945		Colgate-Palmolive Co		274,263
	12,590		Cosmax, Inc		460
	327,722		Dabur India Ltd		793
	138	e	Dr Ci:Labo Co Ltd		466
	125,702	*	Elizabeth Arden, Inc		5,938
	5,491		Emami Ltd		52
	79,147		Energizer Holdings, Inc		5,905
	2,201,373		Estee Lauder Cos (Class A)		135,540
	72,500	e	Fancl Corp		852
	78,586	e	Female Health Co		562
	2,898	*	Genic Co Ltd		168
	572,000		Grape King Industrial Co		1,298
	185,300	*,e	Harbinger Group, Inc		1,562
	974,000		Hengan International Group Co Ltd		9,176
	44,106		Henkel KGaA		2,879
	889,566		Henkel KGaA (Preference)		70,862
	1,908,288	e	Herbalife Ltd		90,453

89

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	1,429,110		Hindustan Lever Ltd	$	14,762
	455,425		Hypermarcas S.A.		3,345
	7,867		Inter Parfums S.A.		197
	54,746		Inter Parfums, Inc		1,002
	17,813		JW Shinyak Corp		114
	506,904		Kao Corp		14,904
	883,304		Kimberly-Clark Corp		75,770
	2,150,137		Kimberly-Clark de Mexico S.A. de C.V. (Class A)		5,137
	34,000	e	Kobayashi Pharmaceutical Co Ltd		1,814
	14,880		Korea Kolmar Co Ltd		198
	41,500	e	Kose Corp		967
	17,787		LG Household & Health Care Ltd		10,130
	347,000	e	Lion Corp		2,022
	90,907		L’Oreal S.A.		11,240
	465,600		Magic Holdings international Ltd		163
	72,279		Mandom Corp		1,893
	311,152		Mcbride plc		651
	61,396	*,e	Medifast, Inc		1,606
	446,347		Microbio Co Ltd		548
	12,200		Milbon Co Ltd		408
	326,238		Natura Cosmeticos S.A.		8,891
	42,364	e	Nature’s Sunshine Products, Inc		692
	834,364	e	Nu Skin Enterprises, Inc (Class A)		32,398
	46,202	*	Nutraceutical International Corp		728
	2,584,000	e,m	NVC Lighting Holdings Ltd		583
	21,478	e	Oil-Dri Corp of America		497
	28,048	e	Orchids Paper Products Co		506
	87,883	e	Oriflame Cosmetics S.A.		3,012
	3,500		Pacific Corp		1,553
	20,800		Pigeon Corp		950
	79,200		Pola Orbis Holdings, Inc		2,496
	200,028	*,e	Prestige Brands Holdings, Inc		3,392
	2,299,000	e	Prince Frog International Holdings Ltd		737
	9,550,641		Procter & Gamble Co		662,431
	3,146,000		PT Unilever Indonesia Tbk		8,544
	410,133	e	PZ Cussons plc		1,989
	1,450,336		Reckitt Benckiser Group plc		83,560
	41,019	*	Revlon, Inc (Class A)		633
	2,248,000		Ruinian International Ltd		690
	43,689	*	Schiff Nutrition International, Inc		1,057
	91,011	e	Shiseido Co Ltd		1,248
	86,259	*	Spectrum Brands, Inc		3,451
	736,053		Svenska Cellulosa AB (B Shares)		13,685
	137,205	e	Uni-Charm Corp		7,867
	23,030	*,e	USANA Health Sciences, Inc		1,070
	750,000	e	Vinda International Holdings Ltd		1,030
	85,352		WD-40 Co		4,493
			TOTAL HOUSEHOLD & PERSONAL PRODUCTS		1,726,593
INSURANCE - 3.6%
	3,777,880		ACE Ltd		285,608
	423,414	e	Admiral Group plc		7,216

90

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	539,773		Aegon NV	$	2,806
	1,126,946		Aflac, Inc		53,958
	239,584		Ageas		5,756
	13,079,907		AIA Group Ltd		48,467
	13,511		Aksigorta AS		15
	19,897	*	Alleghany Corp		6,863
	1,057,646		Allianz AG.		126,138
	327,091		Allied World Assurance Co Holdings Ltd		25,268
	1,511,040		Allstate Corp		59,852
	168,622	*	Alm Brand AS		430
	366,627	e	American Equity Investment Life Holding Co		4,264
	478,597		American Financial Group, Inc		18,139
	917,460	*	American International Group, Inc		30,084
	9,623		American National Insurance Co		691
	60,840	*	American Safety Insurance Holdings Ltd		1,137
	74,306	*,e	Amerisafe, Inc		2,017
	724,416		Amlin plc		4,725
	3,852,496		AMP Ltd		17,212
	99,098	e	Amtrust Financial Services, Inc		2,539
	727,487		Anadolu Hayat Emeklilik AS		1,838
	450,254		Anadolu Sigorta		229
	1,286,286		Aon plc		67,260
	34,475		April Group		577
	697,660	*	Arch Capital Group Ltd		29,078
	107,808		Argo Group International Holdings Ltd		3,492
	174,295		Arthur J. Gallagher & Co		6,243
	651,568		Aspen Insurance Holdings Ltd		19,866
	355,978		Assicurazioni Generali S.p.A.		5,132
	109,659		Assurant, Inc		4,090
	198,910		Assured Guaranty Ltd		2,709
	1,203,684		Aviva plc		6,220
	3,270,256		AXA S.A.		48,686
	1,571,111		Axis Capital Holdings Ltd		54,863
	4,146		Bajaj Finserv Ltd		68
	36,939	e	Baldwin & Lyons, Inc (Class B)		883
	31,116		Baloise Holding AG.		2,449
	299,300		Bangkok Life Assurance PCL (ADR)		427
	1,163,114		Beazley plc		3,162
	53	*	Berkshire Hathaway, Inc		7,033
	7,118,354	*	Berkshire Hathaway, Inc (Class B)		627,839
	194,700		Brazil Insurance Participco		1,830
	147,557		Brown & Brown, Inc		3,847
	9,878,066		Cathay Financial Holding Co Ltd		10,543
	883,230		Catlin Group Ltd		6,799
	250,177		Chesnara plc		783
	1,239,308	*	China Insurance International Holdings Co Ltd		1,934
	12,743,419		China Life Insurance Co Ltd		36,683
	2,783,084		China Life Insurance Co Ltd (Taiwan)		2,557
	4,288,600		China Pacific Insurance Group Co Ltd		12,892
	615,690		Chubb Corp		46,965
	310,577		Cincinnati Financial Corp		11,768
	150,523	*,e	Citizens, Inc (Class A)		1,579

91

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	26,645		Clal Insurance	$	293
	3,500,000		ClearView Wealth Ltd		2,069
	32,793		CNA Financial Corp		879
	294,416		CNP Assurances		3,842
	1,004,941	e	Conseco, Inc		9,698
	2,123,942	e	Corp Mapfre S.A.		5,824
	108,580		Crawford & Co (Class B)		544
	16,092	e	Dai-ichi Mutual Life Insurance Co		18,201
	73,108		Delta Lloyd NV		1,112
	431,060		Discovery Holdings Ltd		2,880
	32,118	e	Donegal Group, Inc (Class A)		451
	88,124		Dongbu Insurance Co Ltd		3,823
	24,431	e	Eastern Insurance Holdings, Inc		410
	81,571	*,e	eHealth, Inc		1,531
	26,575	e	EMC Insurance Group, Inc		558
	119,469		Employers Holdings, Inc		2,190
	672,257		Endurance Specialty Holdings Ltd		25,882
	32,776	*	Enstar Group Ltd		3,266
	39,948		Erie Indemnity Co (Class A)		2,567
	33,029		Euler Hermes S.A.		2,183
	261,991		Everest Re Group Ltd		28,023
	21,032		Fairfax Financial Holdings Ltd		8,124
	49,379		FBD Holdings plc		626
	39,259	e	FBL Financial Group, Inc (Class A)		1,303
	918,767		Fidelity National Title Group, Inc (Class A)		19,652
	528,255		First American Financial Corp		11,447
	187,334	*	Flagstone Reinsurance Holdings Ltd		1,609
	700,487	*	Fondiaria-Sai S.p.A		960
	587	*	Fondiaria-Sai S.p.A-RSP		39
	14,041	*	Fortegra Financial Corp		111
	613,717	*	Genworth Financial, Inc (Class A)		3,210
	138,539	e	Gjensidige Forsikring BA		1,925
	719,899	e	Great-West Lifeco, Inc		16,374
	111,216	*	Greenlight Capital Re Ltd (Class A)		2,753
	75,562		Grupo Catalana Occidente S.A.		1,237
	58,266	*	Hallmark Financial Services		474
	125,316		Hannover Rueckversicherung AG.		8,019
	59,916		Hanover Insurance Group, Inc		2,232
	38,500	*	Hanwha Non-Life Insurance Co Ltd		264
	11,401		Harel Insurance Investments & Finances Ltd		345
	2,182,067		Hartford Financial Services Group, Inc		42,419
	213,729		HCC Insurance Holdings, Inc		7,243
	14,994		Helvetia Holding AG.		5,235
	140,890	*	Hilltop Holdings, Inc		1,791
	789,682		Hiscox Ltd		6,207
	65,614	e	Homeowners Choice, Inc		1,542
	244,139		Horace Mann Educators Corp		4,421
	268,970		Hyundai Marine & Fire Insurance Co Ltd		8,325
	32,267	e	Independence Holding Co		325
	101,601		Industrial Alliance Insurance and Financial Services, Inc		2,898
	44,764		Infinity Property & Casualty Corp		2,703
	131,945		ING Canada, Inc		8,026

92

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	2,471,598		Insurance Australia Group Ltd	$	11,147
	2,934	e	Investors Title Co		191
	266,747		Jardine Lloyd Thompson Group plc		3,302
	17,109	e	Kansas City Life Insurance Co		659
	62,169		Kemper Corp		1,909
	517,300		Korea Life Insurance Co Ltd		3,586
	114,595		Korean Reinsurance Co		1,216
	230,579		Lancashire Holdings Ltd		3,072
	21,538,178		Legal & General Group plc		45,982
	363,668		Liberty Holdings Ltd		4,342
	107,930		LIG Insurance Co Ltd		2,508
	484,646		Lincoln National Corp		11,724
	376,307		Loews Corp		15,526
	29,280	*	Lotte Non-Life Insurance Co Ltd		126
	186,665		Maiden Holdings Ltd		1,659
	2,116,425	e	Manulife Financial Corp		25,511
	11,479	*	Markel Corp		5,263
	3,121,758		Marsh & McLennan Cos, Inc		105,921
	1,646,676	e	Max Capital Group Ltd		39,421
	179,785	*,e	MBIA, Inc		1,821
	318,840	e	Meadowbrook Insurance Group, Inc		2,452
	564,867	e	Mediolanum S.p.A.		2,438
	29,995	*	Menorah Mivtachim Holdings Ltd		197
	32,620		Mercury General Corp		1,261
	160,075		Meritz Fire & Marine Insurance Co Ltd		1,814
	5,814,427		Metlife, Inc		200,365
	1,416,304		Metropolitan Holdings Ltd		3,602
	352,760		Migdal Insurance Holdings Ltd		413
	990,563	*,e	Milano Assicurazioni S.p.A.		431
	1,124,588		Millea Holdings, Inc		28,617
	491,036	e	Mitsui Sumitomo Insurance Group Holdings, Inc		8,476
	232,772	e	Montpelier Re Holdings Ltd		5,151
	351,094		Muenchener Rueckver AG.		54,898
	154,831	*,e	National Financial Partners Corp		2,617
	26,925		National Interstate Corp		695
	12,080		National Western Life Insurance Co (Class A)		1,730
	41,887	*	Navigators Group, Inc		2,062
	171,049		NKSJ Holdings, Inc		3,336
	1,064,010		Old Mutual plc		2,927
	322,635	e	Old Republic International Corp		3,001
	138,573		OneBeacon Insurance Group Ltd (Class A)		1,862
	471,275	e	PartnerRe Ltd		35,006
	20,549	*,e	Phoenix Cos, Inc		630
	114,293		Phoenix Group Holdings		939
	79,180		Phoenix Holdings Ltd		145
	6,618,500		PICC Property & Casualty Co Ltd		8,064
	3,404,500	e	Ping An Insurance Group Co of China Ltd		25,471
	140,305		Platinum Underwriters Holdings Ltd		5,734
	139,131		Porto Seguro S.A.		1,399
	857,640	e	Power Corp Of Canada		20,850
	621,974	e	Power Financial Corp		16,076
	130,107		Powszechny Zaklad Ubezpieczen S.A.		14,635

93

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	95,133		Presidential Life Corp	$	1,325
	204,569		Primerica, Inc		5,859
	2,517,997		Principal Financial Group		67,835
	70,958		ProAssurance Corp		6,417
	737,905	e	Progressive Corp		15,304
	498,075		Protective Life Corp		13,055
	3,964,846		Prudential Financial, Inc		216,124
	6,617,931		Prudential plc		85,936
	88,425,000	*	PT Panin Life Tbk		1,179
	1,907,438	e	QBE Insurance Group Ltd		25,474
	159,097		Reinsurance Group of America, Inc (Class A)		9,207
	362,085		RenaissanceRe Holdings Ltd		27,895
	1,949,558		Resolution Ltd		6,841
	90,254		RLI Corp		6,016
	989,352		RMI Holdings		2,558
	1,625,444	e	Royal & Sun Alliance Insurance Group plc		2,906
	46,331		Safety Insurance Group, Inc		2,126
	81,511		Sampo Oyj (A Shares)		2,540
	74,007		Samsung Fire & Marine Insurance Co Ltd		15,836
	82,446		Samsung Life Insurance Co Ltd		7,105
	3,214,384		Sanlam Ltd		14,525
	28,504		Santam Ltd		650
	26,812		Schweizerische National-Versicherungs-Gesellschaft		1,063
	118,126		SCOR		3,045
	83,839		SeaBright Insurance Holdings, Inc		922
	201,107		Selective Insurance Group, Inc		3,819
	17,012,195	*	Shin Kong Financial Holding Co Ltd		4,717
	460,000		Shinkong Insurance Co Ltd		303
	70,660		Societa Cattolica di Assicurazioni SCRL		1,099
	516,238		Sony Financial Holdings, Inc		8,802
	296,709		St. James’s Place plc		1,762
	54,382	e	Stancorp Financial Group, Inc		1,699
	1,213,987		Standard Life plc		5,359
	62,592	e	State Auto Financial Corp		1,026
	115,227	e	Stewart Information Services Corp		2,321
	452,748		Storebrand ASA		2,082
	141,550		Sul America SA		1,047
	855,439	e	Sun Life Financial, Inc		19,857
	2,683,937		Suncorp-Metway Ltd		25,601
	21,037		Swiss Life Holding		2,513
	1,562,250		Swiss Re Ltd		100,521
	342,178		Symetra Financial Corp		4,209
	689,100		T&D Holdings, Inc		7,440
	503,000		Taiwan Fire & Marine Insurance Co		362
	924,000		Taiwan Life Insurance Co Ltd		610
	79,020		Tong Yang Life Insurance		712
	14,889	*	Topdanmark AS		2,910
	451,065		Torchmark Corp		23,162
	133,482	e	Tower Group, Inc		2,588
	1,384,266		Travelers Cos, Inc		94,490
	11,235		TrygVesta AS		729
	248,856	*	Unipol Gruppo Finanziario S.p.A		606

94

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	333,404	*	Unipol Gruppo Finanziario S.p.A (Priv)	$	535
	46,625	*,e	United America Indemnity Ltd		1,020
	94,665		United Fire & Casualty Co		2,378
	111,079	e	Universal Insurance Holdings, Inc		428
	580,818		UnumProvident Corp		11,163
	1,014,555	e	Validus Holdings Ltd		34,404
	50,607		Vittoria Assicurazioni S.p.A.		303
	432,517		W.R. Berkley Corp		16,215
	7,083	e	White Mountains Insurance Group Ltd		3,636
	66,109		Wiener Staedtische Allgemeine Versicherung AG.		2,807
	2,209,226	e	XL Capital Ltd		53,088
	48,547		Yapi Kredi Sigorta AS		428
	209,718		Zurich Financial Services AG.		52,284
			TOTAL INSURANCE		3,804,532
MATERIALS - 6.3%
	177,591		A. Schulman, Inc		4,230
	18,143	e	Acerinox S.A.		204
	774,660		ACHEM Technology Corp		378
	214,000		Achilles Corp		290
	33,131	*,e	ADA-ES, Inc		782
	105,581		Adana Cimento		201
	232,900	e	ADEKA Corp		1,754
	1,225,421	e	Adelaide Brighton Ltd		3,815
	380,922		Aditya Birla Minerals Ltd		190
	29,781	*,e	Advanced Metallurgical Group NV		228
	47,153	*	Advansa Sasa Polyester Sanayi AS		33
	149,556	e	Aeci Ltd		1,471
	6,578	*	Aekyung Petrochemical Co Ltd		343
	18,311	*,e	AEP Industries, Inc		1,109
	170,297		African Barrick Gold Ltd		1,224
	335,770	*,e	African Minerals Ltd		1,616
	163,870	e	African Oxygen Ltd		374
	130,469		African Rainbow Minerals Ltd		2,561
	89		Afyon Cimento Sanayi TAS		4
	150,725	e	Agnico-Eagle Mines Ltd		7,819
	475,702	e	Agrium, Inc (Toronto)		49,355
	344,000	e	Aichi Steel Corp		1,409
	395,501		Air Liquide		49,022
	506,682		Air Products & Chemicals, Inc		41,903
	277,311		Air Water, Inc		3,394
	135,362		Airgas, Inc		11,140
	11,694		AK Holdings, Inc		235
	478,781	e	AK Steel Holding Corp		2,298
	117,826		Akcansa Cimento AS		515
	110,304		Akzo Nobel NV		6,229
	294,570	e	Alamos Gold, Inc		5,726
	208,488		Albemarle Corp		10,983
	23,678	*	Alchemia S.A.		41
	1,287,820		Alcoa, Inc		11,397
	75,500	*	Alexco Resource Corp		329
	252,675	*	Alkane Resources Ltd		249

95

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	129,579		Allegheny Technologies, Inc	$	4,134
	227,877	*,e	Allied Nevada Gold Corp		8,901
	559,104		Alpek SAB de C.V.		1,456
	277,932		Altri SGPS S.A.		486
	743,270	e	Alumina Ltd		647
	6,246,000	e	Aluminum Corp of China Ltd		2,547
	35,223	f	AMAG Austria Metall AG.(purchased 02/29/12, cost $798)		964
	1,139,654		Ambuja Cements Ltd		4,355
	93,270		AMCOL International Corp		3,160
	1,431,952		Amcor Ltd		11,490
	155,937		American Vanguard Corp		5,427
	192,075	*,e	Ampella Mining Ltd		138
	3,807,000		AMVIG Holdings Ltd		1,133
	304,154		Anadolu Cam Sanayii AS		400
	598,700	*	Anatolia Minerals Development Ltd		4,421
	2,224,720	e	Angang New Steel Co Ltd		1,139
	463,366		Anglo American plc (London)		13,641
	79,940	e	Anglo Platinum Ltd		4,106
	769,882		AngloGold Ashanti Ltd		26,837
	3,808,194	e	Anhui Conch Cement Co Ltd		11,775
	158,000		ANN JOO Resources BHD		69
	2,633,188		Antofagasta plc		53,854
	207,842	e	APERAM		3,351
	86,270		Aptargroup, Inc		4,461
	621,585	e	Aquarius Platinum Ltd		420
	73,202	*,e	Arabian American Development Co		717
	819,708	e	ArcelorMittal		11,799
	128,100	*	Argonaut Gold, Inc		1,328
	208,460		Arkema		19,512
	75,723	e	Asahi Holdings, Inc		1,271
	2,658,352	e	Asahi Kasei Corp		13,703
	94,000	e	Asahi Organic Chemicals Industry Co Ltd		226
	2,038,811		Ashland, Inc		145,978
	1,750,000		Asia Cement China Holdings Corp		734
	7,650		Asia Cement Co Ltd		356
	4,957,203		Asia Cement Corp		6,247
	266,300		Asia Plastic Recycling Holding Ltd		898
	244,500		Asia Polymer		231
	34,084		Asian Paints Ltd		2,540
	251,681	*	Aspire Mining Ltd		24
	117,769		Associated Cement Co Ltd		3,275
	65,224	e	Assore Ltd		2,584
	677,200	*	Atlas Consolidated Mining & Development		282
	1,055,042		Atlas Iron Ltd		1,527
	187,200	*	Augusta Resource Corp		539
	17,276		Auriga Industries (Class B)		272
	390,111	*	Aurizon Mines Ltd		2,048
	125,200	*,e	Avalon Rare Metals, Inc		246
	521,200	*	Avion Gold Corp		424
	231,192	e	Avocet Mining plc		309
	679,422		AZ Electronic Materials S.A.		3,719

96

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	868,835	*	B2Gold Corp	$	3,482
	439		Bagfas Bandirma Gubre Fabrik		43
	135,687		Balchem Corp		4,984
	1,012,901		Ball Corp		42,857
	264,598		Ballarpur Industries Ltd		99
	243,100	*	Banro Corp		1,130
	155,280		Barrick Gold Corp		6,484
	2,230,130	e	Barrick Gold Corp (Canada)		93,189
	1,584,510		BASF AG.		133,884
	3,038		BASF India Ltd		38
	759,728	*,e	Bathurst Resources Ltd		321
	62,885		Baticim Bati Anadolu Cimento Sanayii AS		228
	5,096		Bayer CropScience Ltd		103
	2,586,000		BBMG Corp		1,967
	71,777		BC Iron Ltd		197
	751,278	*	Beadell Resources Ltd		763
	53,388	e	Bekaert S.A.		1,538
	127,736		Bemis Co, Inc		4,020
	49,361		Berger Paints India Ltd		137
	5,438,441		BHP Billiton Ltd		185,826
	5,014,841		BHP Billiton plc		156,604
	207,872	e	Billerud AB		1,941
	6,842,800	*	BlueScope Steel Ltd		2,965
	1,630	*	BNG Steel Co Ltd		17
	481,361		Boise, Inc		4,217
	537,229		Boliden AB		8,984
	764,675	e	Boral Ltd		3,030
	10,943		Borusan Mannesmann Boru Sanayi		167
	3,604,759	*	Boryszew S.A.		641
	309,993		Bradespar S.A.		4,303
	193,428		Braskem S.A.		1,362
	72,939		Brush Engineered Materials, Inc		1,736
	192,576		Buckeye Technologies, Inc		6,174
	136,550		Bursa Cimento		365
	102,997	e	Buzzi Unicem S.p.A.		1,143
	55,006		Buzzi Unicem S.p.A. RSP		307
	7,600		C Uyemura & Co Ltd		269
	77,693		Cabot Corp		2,841
	492,335	*,e	Calgon Carbon Corp		7,045
	285,100	e	Canexus Corp		2,485
	138,168	*	Canfor Corp		1,831
	90,900		Canfor Pulp Products, Inc		842
	93,043		CAP S.A.		3,242
	549,962	*	Cape Lambert Resources Ltd		179
	93,950		Capro Corp		1,414
	372,811	*	Capstone Mining Corp		963
	56,997		Carpenter Technology Corp		2,982
	149,552		Cascades, Inc		695
	57,902	*,e	Castle (A.M.) & Co		723
	51,744		CCL Industries		1,912
	797,044		Celanese Corp (Series A)		30,216
	81,180		Cementir S.p.A.		162

97

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	711,138		Cementos Argos S.A.	$	3,090
	38,043	*,e	Cementos Pacasmayo SAA (ADR)		433
	15,268	*,e	Cementos Portland Valderrivas S.A.		75
	25,441,176	*,e	Cemex S.A. de C.V.		21,169
	1,353,317	*,e	Centamin plc		2,023
	166,756		Centerra Gold, Inc		2,088
	195,538	*	Century Aluminum Co		1,398
	103,882		Century Textile & Industries Ltd		706
	611,616		CF Industries Holdings, Inc		135,925
	401,166		Chambal Fertilizers & Chemicals Ltd		561
	25,569	e	Chase Corp		470
	73,727		Cheil Industries, Inc		6,697
	466,127	*	Chemtura		8,027
	1,885,560		Cheng Loong Corp		765
	1,043,925		Chia Hsin Cement Corp		523
	710,000		Chiho-Tiande Group Ltd		359
	5,814,000		China BlueChemical Ltd		3,429
	59,000	*	China General Plastics Corp		27
	882,000		China Glass Holdings Ltd		91
	280,000		China Hi-ment Corp		455
	670,000	*	China Manmade Fibers Corp		274
	368,409		China Metal Products		318
	3,246,600	e	China Metal Recycling Holdings Ltd		2,998
	4,994,000	*,m	China Mining Resources Group Ltd		18
	5,848,278	e	China National Building Material Co Ltd		6,406
	646,000		China Nickel Resources Holding Co Ltd		48
	2,097,000		China Petrochemical Development Corp		1,769
	1,488,000	*,e	China Precious Metal Resources Holdings Co Ltd		287
	1,422,000	e	China Rare Earth Holdings Ltd		314
	10,804,000	e	China Resources Cement Holdings Ltd		6,241
	1,450,000		China Sanjiang Fine Chemicals		407
	2,577,000		China Shanshui Cement Group Ltd		1,664
	193,000		China Steel Chemical Corp		850
	14,814,483		China Steel Corp		13,496
	1,188,000		China Synthetic Rubber Corp		1,271
	6,700,000	*	China Timber Resources Group Ltd		219
	2,043,000	e	China Vanadium Titano-Magnetite Mining Co Ltd		314
	568,000		China XLX Fertiliser Ltd		136
	4,701,200	e	China Zhongwang Holdings Ltd		1,801
	496,000	*,e	Chongqing Iron & Steel Co Ltd		60
	1,197,883		Christian Hansen Holding		35,997
	202,000		Chuetsu Pulp & Paper Co Ltd		354
	77,000		Chugoku Marine Paints Ltd		371
	1,398,328		Chun Yuan Steel		558
	1,344,720		Chung Hung Steel Corp		384
	169,950		Chung Hwa Pulp Corp		58
	300,700		Cia de Minas Buenaventura S.A. (ADR) (Series B)		11,715
	463,786	*	Cia Minera Atacocha S.A.		75
	352,200		Cia Minera Autlan SAB de C.V.		395
	1,339,136		Cia Siderurgica Nacional S.A.		7,544
	112,930	*	Ciech S.A.		643
	10,682		Ciments Francais S.A.		629

98

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	126,348		Cimsa Cimento Sanayi Ve Tica	$	557
	1,208,000		Citic Dameng Holdings		115
	3,298,542		Clariant AG.		39,291
	2,984		Clariant Chemicals India Ltd		35
	86,261	*,e	Clearwater Paper Corp		3,563
	2,167,203	e	Cleveland-Cliffs, Inc		84,803
	198,500	*,e	Cline Mining Corp		45
	467,925	*	Coeur d’Alene Mines Corp		13,490
	128,700	*	Colossus Minerals, Inc		734
	148,169		Commercial Metals Co		1,956
	86,132	*	Companhia Vale do Rio Doce		0	^
	395,500	e	Companhia Vale do Rio Doce (ADR)		7,079
	107,043		Compass Minerals International, Inc		7,984
	129,100	*	Copper Mountain Mining Corp		443
	409,024		Corp Aceros Arequipa S.A.		202
	7,010	*	Cosmochemical Co Ltd		80
	3,237,000		CPMC Holdings Ltd		2,238
	130,400		CRH plc		2,504
	643,378		Croda International plc		25,257
	120,700	*	Cronus Resources Ltd		1,082
	476,355	*	Crown Holdings, Inc		17,506
	374,600		CSC Steel Holdings BHD		144
	2,105,680		CSG Holding Co Ltd		1,337
	25,040,000	*	CST Mining Group Ltd		382
	140,972	*,e	Cudeco Ltd		670
	1,526,629		Cytec Industries, Inc		100,024
	280,000		Dai Nippon Toryo Co Ltd		308
	1,144,309		Daicel Chemical Industries Ltd		6,854
	620,626	e	Daido Steel Co Ltd		2,882
	149,000	e	Daiken Corp		360
	142,857		Dainichiseika Color & Chemicals Manufacturing Co Ltd		633
	1,041,845		Dainippon Ink and Chemicals, Inc		1,690
	191,872	e	Daio Paper Corp		1,190
	138,000		Daiso Co Ltd		387
	21,085		DC Chemical Co Ltd		3,384
	16,565		Deepak Fertilizers & Petrochemicals Corp Ltd		41
	39,269		Deltic Timber Corp		2,563
	692,405		Denki Kagaku Kogyo KK		2,146
	716,157	*	Detour Gold Corp		19,982
	498,515	*,e	Discovery Metals Ltd		662
	239,169		Domtar Corp		18,725
	23,360		Dongbu Steel Co Ltd		108
	5,478		Dongil Industries Co Ltd		260
	67,414		Dongjin Semichem Co Ltd		258
	67,948		Dongkuk Industries Co Ltd		271
	40,600		Dongkuk Steel Mill Co Ltd		591
	2,417,000	e	Dongyue Group		1,065
	5,198,929		Dow Chemical Co		150,560
	456,000	e	Dowa Holdings Co Ltd		3,157
	654,072		DRDGOLD Ltd		425
	1,295,987		DS Smith plc		3,902
	319,249		DSM NV		15,926

99

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	3,038,736		Du Pont (E.I.) de Nemours & Co	$	152,756
	968,336		DuluxGroup Ltd		3,307
	138,400	*	Dundee Precious Metals, Inc		1,295
	248,646	e	Eagle Materials, Inc		11,502
	15,600		Earth Chemical Co Ltd		587
	2,522,985	*	Eastern Platinum Ltd		462
	916,991		Eastman Chemical Co		52,277
	101,421	*	Eco Oro Minerals Corp		95
	845,131		Ecolab, Inc		54,772
	4,810		EG Corp		208
	15,074		EID Parry India Ltd		65
	447,802		El Ezz Steel Co		889
	921,699		Eldorado Gold Corp		14,054
	176,642	*	Elemental Minerals Ltd		107
	1,133,655		Elementis plc		4,259
	1,703,116		Empresas CMPC S.A.		6,706
	11,407	*	EMS-Chemie Holding AG.		2,354
	168,200	*,e	Endeavour Mining Corp		380
	153,139	*	Endeavour Mining Corp (ADR)		345
	239,000	*	Endeavour Silver Corp		2,382
	1,181,981		Eregli Demir ve Celik Fabrikalari TAS		1,455
	842,994		Eternal Chemical Co Ltd		719
	162,200		Eternit S.A.		784
	95,300		Eucatex S.A. Industria e Comercio		353
	978,801		Eurasian Natural Resources Corp		4,894
	570,570		Everlight Chemical Industrial Corp		380
	547,694	*	Evolution Mining Ltd		1,096
	388,508		Evraz plc		1,551
	112,100	*	Exeter Resource Corp		188
	1,085,050		Feng Hsin Iron & Steel Co		1,878
	116,300		Ferbasa-Ferro Ligas DA Bahia		608
	840,290		Ferrexpo plc		2,639
	333,507	*	Ferro Corp		1,144
	234,500	*	Fertilizantes Heringer S.A.		1,653
	323,959		Fibria Celulose S.A.		2,945
	3,206,547		Filtrona plc		26,717
	251,700	*	First Majestic Silver Corp		5,843
	1,303,692	e	First Quantum Minerals Ltd		27,782
	2,141,031	e	Fletcher Building Ltd		12,324
	192,331	*,e	Flotek Industries, Inc		2,437
	862,942		FMC Corp		47,789
	5,437,615	*	Focus Minerals Ltd		208
	28,690	*	Foosung Co Ltd		168
	4,896,403		Formosa Chemicals & Fibre Corp		13,112
	5,858,331		Formosa Plastics Corp		16,692
	405,000		Formosan Rubber Group, Inc		290
	1,227,732		Formosan Union Chemical		751
	10,905,157	e	Fortescue Metals Group Ltd		39,096
	13,900	*	Fortress Paper Ltd		197
	164,400	*	Fortuna Silver Mines, Inc		871
	4,928,200	e	Fosun International		2,355
	14,300	e	FP Corp		1,126

100

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	225,585	*,e	Franco-Nevada Corp	$	13,297
	4,368,303		Freeport-McMoRan Copper & Gold, Inc (Class B)		172,897
	1,653,446		Fresnillo plc		49,628
	58,655		Frutarom Industries Ltd		577
	27,453		Fuchs Petrolub AG.		1,642
	48,446		Fuchs Petrolub AG. (Preference)		3,069
	1,351,000	e	Fufeng Group Ltd		446
	53,652		Fuji Seal International, Inc		1,111
	18,700		Fujimi, Inc		276
	116,000	e	Furukawa-Sky Aluminum Corp		300
	14,561,800	e	Fushan International Energy Group Ltd		3,920
	69,127		FutureFuel Corp		837
	10,974,800	*	G J Steel PCL		50
	5,146,900	*	G Steel PCL		57
	359,670	*	Gabriel Resources Ltd		765
	376,642	*	Gammon Gold, Inc		2,647
	148,413	*	Gem Diamonds Ltd		417
	240,556	*,e	General Moly, Inc		763
	721,371	e	Georgia Gulf Corp		26,128
	158,900		Gerdau S.A.		1,249
	1,056,102		Gerdau S.A. (Preference)		10,044
	997,589	*,e	Gindalbie Metals Ltd		277
	19,179		Givaudan S.A.		18,209
	265,283		Glatfelter		4,725
	477,200	*	Gleichen Resources Ltd		1,029
	2,516,045	e	Glencore International AG.		13,975
	254,855		Globe Specialty Metals, Inc		3,879
	293,517		Gloria Material Technology Corp		283
	414,000		Godo Steel Ltd		684
	228,507		Godrej Industries Ltd		1,244
	1,403,140		Gold Fields Ltd		17,732
	191,147	*	Gold Reserve, Inc		619
	105,695	e	Gold Resource Corp		2,267
	888,759		Goldcorp, Inc		40,808
	95,349	*,e	Golden Minerals Co		498
	910,735	*,e	Golden Star Resources Ltd		1,794
	432,138	*	Golden Star Resources Ltd (Toronto)		866
	4,106,418		Goldsun Development & Construction Co Ltd		1,642
	805,000		Grand Pacific Petrochemical		436
	1,249,429	e	Grange Resources Ltd		341
	1,783,176	*	Graphic Packaging Holding Co		10,360
	9,424		Grasim Industries Ltd		591
	605,755	*	Great Basin Gold Ltd		6
	148,000		Great China Metal Industry		167
	197,748	*,e	Great Southern Ltd		0	^
	539,000		Greatview Aseptic Packaging Co		293
	39,478		Greif, Inc (Class A)		1,744
	21,372,543	*	G-Resources Group Ltd		919
	306,809		Grupo Empresarial Ence S.A.		685
	6,329,149		Grupo Mexico S.A. de C.V. (Series B)		20,888
	221,700	*	Grupo Simec SAB de C.V.		892
	341,652	*,e	Gryphon Minerals Ltd		326

101

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	28,607	*	GSE Holding, Inc	$	225
	26,092	*	Gubre Fabrikalari TAS		184
	41,946		Gujarat Flourochemicals		306
	94,398		Gujarat Mineral Development Corp Ltd		353
	24,544		Gujarat Narmada Valley Fertilizers Co Ltd		40
	488,901		Gujarat NRE Coke Ltd		173
	177,545		Gujarat State Fertilisers & Chemicals Ltd		269
	72,000		Gun-Ei Chemical Industry Co Ltd		186
	3,179,452	*,e,m	Gunns Ltd		264
	1,584	*,m	Gunns Ltd (Forest)		35
	790		Gurit Holding AG.		391
	105,742	*	Guyana Goldfields, Inc		357
	16,372		H&R WASAG AG.		275
	213,281		H.B. Fuller Co		6,543
	2,488	*	Hadera Paper Ltd		91
	9,860		Hanil Cement Manufacturing		359
	21,080		Hansol Chemical Co Ltd		431
	123,920		Hansol Paper Co		1,039
	111,015		Hanwha Chemical Corp		2,109
	118,597		Hanwha Corp		3,670
	473,359		Harmony Gold Mining Co Ltd		3,910
	172,524	*	Harry Winston Diamond Corp		2,051
	35,035	e	Hawkins, Inc		1,456
	73,011		Haynes International, Inc		3,808
	441,503	*	Headwaters, Inc		2,905
	1,084,037	e	Hecla Mining Co		7,100
	65,574		HeidelbergCement AG.		3,444
	59,607		Hexpol AB (Series B)		2,319
	487,432	*	High River Gold Mines Ltd		704
	165,914	e	Highland Gold Mining Ltd		309
	137,274		Hill & Smith Holdings plc		824
	2,241,972		Hindalco Industries Ltd		5,112
	221,291		Hitachi Chemical Co Ltd		2,985
	38,329	e	Hitachi Metals Ltd		341
	365,030	*	Ho Tung Chemical Corp		200
	259,735	e	Hochschild Mining plc		2,042
	55,190		Hoganas AB (Class B)		1,922
	468,929	e	Hokuetsu Paper Mills Ltd		2,318
	1,718,496		Holcim Ltd		109,454
	60,939		Holmen AB (B Shares)		1,666
	19,949		Honam Petrochemical Corp		4,707
	2,436,000	*	Honbridge Holdings Ltd		146
	156,111	*	Horsehead Holding Corp		1,458
	49,000		Hsin Kuang Steel Co Ltd		31
	2,822,000	e	Huabao International Holdings Ltd		1,609
	615,800	*	Hubei Sanonda Co Ltd		228
	38,250		Huchems Fine Chemical Corp		922
	324,926		HudBay Minerals, Inc		3,199
	199,441		Huhtamaki Oyj		3,182
	41,870	*	Hulamin Ltd		19
	1,648,000	*,e	Hunan Non-Ferrous Metal Ltd		466
	963,750	e	Huntsman Corp		14,389

102

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	29,676		Hyosung Corp	$	1,653
	66,349		Hyundai Hysco		2,801
	95,204		Hyundai Steel Co		7,503
	587,295		IAMGOLD Corp		9,313
	2,073,994	e	Iluka Resources Ltd		21,200
	805,764	e	Imdex Ltd		1,366
	58,446		Imerys S.A.		3,429
	688,173		Impala Platinum Holdings Ltd		11,495
	95,600	*	Imperial Metals Corp		1,215
	418,990		Impexmetal S.A.		482
	2,163,338		Incitec Pivot Ltd		6,643
	283,406	e	Independence Group NL		1,230
	228,393		India Cements Ltd		410
	816,810	*	Indophil Resources NL		262
	703,200		Indorama Ventures PCL (ADR)		654
	1,595,578		Indorama Ventures PCL (Foreign)		1,490
	300,400	*	Industrias CH SAB de C.V.		1,785
	241,805	e	Industrias Penoles S.A. de C.V.		11,912
	59,502		Inmet Mining Corp		2,828
	84,648		Innophos Holdings, Inc		4,105
	83,249	*	Innospec, Inc		2,824
	994,363	*,e	Integra Mining Ltd		581
	125,375		International Flavors & Fragrances, Inc		7,470
	1,961,957		International Paper Co		71,259
	93,505	*,e	International Tower Hill Mines Ltd		267
	536,118	*,e	Intrepid Mines Ltd		257
	72,633	*	Intrepid Potash, Inc		1,560
	520,465		Inversiones Argos S.A.		5,749
	210,707		Inversiones Argos S.A. (Preference)		2,318
	1,354,000	*	IRC Ltd		87
	1,093,000	*	Ishihara Sangyo Kaisha Ltd		839
	1,404,147	*	Ispat Industries Ltd		265
	354,198		Israel Chemicals Ltd		4,302
	418		Israel Corp Ltd		266
	5,220		ISU Chemical Co Ltd		109
	96,712	e	Italcementi S.p.A.		510
	250,632		Italcementi S.p.A. RNC		655
	13,680		Italmobiliare S.p.A.		254
	32,796		Italmobiliare S.p.A. RSP		410
	223,213	*	Ivanhoe Australia Ltd		156
	356,404	*,e	Ivanhoe Mines Ltd		3,034
	42,897	*	Izmir Demir Celik Sanayi AS		101
	276,100	*,e	Jaguar Mining, Inc (Toronto)		337
	200,618		JAI Corp Ltd		240
	1,506,104		James Hardie Industries NV		13,527
	456,893		Jastrzebska Spolka Weglowa S.A.		13,049
	167,945	e	JFE Holdings, Inc		2,212
	3,242,000		Jiangxi Copper Co Ltd		8,139
	99,092		Jindal Saw Ltd		223
	473,052		Jindal Steel & Power Ltd		3,822
	218,000	*	Jinshan Gold Mines, Inc		949
	734,907		Johnson Matthey plc		28,705

103

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	13,900		JSP Corp	$	204
	300,727	e	JSR Corp		4,921
	299,267		JSW Steel Ltd		4,289
	503,989	*	Jupiter Mines Ltd		73
	96,473		K&S AG.		4,753
	2,571,394	*,b,e,m	Kagara Zinc Ltd		27
	75,996	e	Kaiser Aluminum Corp		4,437
	265,811	e	Kaneka Corp		1,280
	1,137,406	*	Kangaroo Resources Ltd		60
	435,837	e	Kansai Paint Co Ltd		4,830
	56,000	e	Kanto Denka Kogyo Co Ltd		89
	187,344	*	Kapstone Paper and Packaging Corp		4,195
	452,720		Kardemir Karabuk Demir Celik Sanayi ve Ticaret AS (Class A)		345
	1,586,240		Kardemir Karabuk Demir Celik Sanayi ve Ticaret AS (Class D)		1,035
	384		Kartonsan Karton Sanayi		50
	949,600	*	Katanga Mining Ltd		415
	235,979		Kazakhmys plc		2,648
	187,600	*	Keegan Resources, Inc		697
	180,231	e	Kemira Oyj		2,514
	13,651		Kemrock Industries & Exports Ltd		23
	501,939		KGHM Polska Miedz S.A.		23,946
	734,400		Kian Joo Can Factory BHD		576
	184,857	e	Kingsgate Consolidated Ltd		1,152
	395,439		Kingsrose Mining Ltd		480
	1,551,792		Kinross Gold Corp		15,879
	1,038,500		Kinsteel BHD		122
	89,638	*	Kirkland Lake Gold, Inc		1,087
	13,620		KISCO Corp		398
	15,288		KISWIRE Ltd		465
	633,465		Klabin S.A.		3,312
	340,087		KME Group S.p.A.		150
	35,063	e	KMG Chemicals, Inc		649
	54,000		Koatsu Gas Kogyo Co Ltd		307
	2,539,998	*,e	Kobe Steel Ltd		2,012
	8,750		Kolon Corp		162
	42,734		Kolon Industries, Inc		2,363
	437		Konya Cimento Sanayii		74
	113,331	e	Koppers Holdings, Inc		3,959
	16,841		Korea Kumho Petrochemical		1,855
	3,109		Korea Petrochemical Ind Co Ltd		180
	27,915		Korea Zinc Co Ltd		12,149
	785,168		Koza Altin Isletmeleri AS		16,838
	613,575	*	Koza Anadolu Metal Madencilik Isletmeleri AS		1,486
	63,140	m	KP Chemical Corp		741
	3,822		KPX Chemical Co Ltd		168
	151,721	*,e	Kraton Polymers LLC		3,960
	46,369	e	Kronos Worldwide, Inc		693
	57,000	e	Krosaki Harima Corp		151
	6,691		Kukdo Chemical Co Ltd		291
	163,715	e	Kumba Iron Ore Ltd		9,869

104

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	54,000	e	Kumiai Chemical Industry Co Ltd	$	274
	766,939	e	Kuraray Co Ltd		8,710
	163,000		Kureha CORP		649
	21,200	e	Kyoei Steel Ltd		374
	3,876	*	La Seda de Barcelona S.A.		8
	41,800	*	Labrador Iron Mines Holdings Ltd		48
	718,220		Lafarge Malayan Cement BHD		2,091
	774,211		Lafarge S.A.		41,597
	495,100	*,e	Lake Shore Gold Corp		499
	103,331	*,e	Landec Corp		1,183
	1,043,368		Lanxess AG.		86,667
	442,000		Lee & Man Holding Ltd		205
	4,651,000	e	Lee & Man Paper Manufacturing Ltd		2,028
	621,319		LEE Chang Yung Chem IND Corp		897
	16,477	e	Lenzing AG.		1,410
	1,426,000	*	Lepanto Consolidated Mining		40
	91,598		LG Chem Ltd		27,077
	12,585		LG Chem Ltd (Preference)		1,116
	32,819		Linde AG.		5,657
	460,000		Lingbao Gold Co Ltd		205
	385,800		Lingui Development BHD		201
	81,000		Lintec Corp		1,478
	784,100		Lion Industries Corp BHD		277
	761,000	*,e	LionGold Corp Ltd		722
	28,854		Lock & Lock Co Ltd		616
	137,345	*,e	London Mining plc		327
	853,000		Long Chen Paper Co Ltd		233
	27,596	e	Lonmin plc		249
	1,072,800	*	Loudong General Nice Resources China Holdings Ltd		43
	671,100	*	Louisiana-Pacific Corp		8,389
	135,407	*	LSB Industries, Inc		5,940
	1,590,000	e	Lumena Resources Corp		277
	752,681	*	Lundin Mining Corp		3,843
	1,390,833	*,e	Lynas Corp Ltd		1,125
	1,367,382		LyondellBasell Industries AF S.C.A		70,638
	14,285		Madras Cements Ltd		52
	120,569	*	MAG. Silver Corp		1,477
	90,000		Magnesita Refratarios S.A.		333
	4,905		Maharashtra Seamless Ltd		32
	227,233		Major Drilling Group International		2,321
	3,087		Managem		507
	135,077		Mardin Cimento Sanayii		382
	112,911	e	Martin Marietta Materials, Inc		9,357
	19,675		Maruichi Steel Tube Ltd		420
	4,342,227		Masisa S.A.		436
	18,136	e	Mayr-Melnhof Karton AG.		1,698
	798,853	*,e	McEwen Mining, Inc		3,667
	1,042,315		MeadWestvaco Corp		31,895
	121,624	e	Mechel Steel Group OAO (ADR)		856
	221,455	e	Medusa Mining Ltd		1,381
	2,964,930		Merafe Resources Ltd		286
	646,300	*,e	Mercator Minerals Ltd		401

105

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	67,542	*	Metals USA Holdings Corp	$	903
	549,742	*	Metals X Ltd		91
	483,900		Metalurgica Gerdau S.A.		5,831
	222,500		Methanex Corp		6,348
	743,325	*	Metminco Ltd		64
	1,831,528		Mexichem SAB de C.V.		8,730
	43,900	*	Midas Gold Corp		153
	959,000	e	Midas Holdings Ltd		326
	393,137	*,e	Midway Gold Corp		645
	499,229	e	Mincor Resources NL		479
	931,238	*,e	Minera Frisco SAB de C.V.		3,934
	87,261	*	Mineral Deposits Ltd		529
	68,272		Minerals Technologies, Inc		4,843
	3,748,000	*,e	Minmetals Resources Ltd		1,427
	16,831		Miquel y Costas & Miquel S.A.		447
	612,404	*,e	Mirabela Nickel Ltd		271
	1,657,613	e	Mitsubishi Chemical Holdings Corp		6,331
	316,143		Mitsubishi Gas Chemical Co, Inc		1,586
	1,929,172		Mitsubishi Materials Corp		6,070
	400,000	*	Mitsubishi Paper Mills Ltd		342
	173,000		Mitsubishi Steel Manufacturing Co Ltd		314
	711,212	e	Mitsui Chemicals, Inc		1,386
	769,000		Mitsui Mining & Smelting Co Ltd		1,628
	286,500		Mitsui Mining Co Ltd		363
	154,920		Mittal Steel South Africa Ltd		766
	744,207	e	MMC Norilsk Nickel (ADR)		11,909
	164,200	*	MMX Mineracao e Metalicos S.A.		403
	150,299	*,e	Molycorp, Inc		1,728
	362,727		Mondi Ltd		3,689
	859,845		Mondi plc		8,772
	7,011		Monnet Ispat & Energy Ltd		41
	3,231,716		Monsanto Co		294,150
	53,400		Moorim P&P Co Ltd		190
	713,133		Mosaic Co		41,084
	2,542,379		Mount Gibson Iron Ltd		1,963
	295,267		Mpact Ltd		670
	291,772	*,e	M-real Oyj (B Shares)		876
	163,676		Myers Industries, Inc		2,557
	241,306	*	Mytilineos Holdings S.A.		956
	531,194	*,m	Nagarjuna Fertilizers & Chemicals		80
	33,830		Namhae Chemical Corp		315
	1,068,163		Nampak Ltd		3,670
	7,480,057		Nan Ya Plastics Corp		14,958
	1,009,953		Nantex Industry Co Ltd		731
	110,081	e	Neenah Paper, Inc		3,153
	69,600	e	Neturen Co Ltd		429
	546,937		Nevsun Resources Ltd		2,565
	613,574	*	New Gold, Inc		7,521
	30,300	*,e	New Japan Chemical Co Ltd		147
	130,082	e	New World Resources plc (A Shares)		557
	960,058		Newcrest Mining Ltd		28,860
	62,711		NewMarket Corp		15,457

106

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	1,037,706		Newmont Mining Corp	$	58,122
	1,060,000	*	Newton Resources Ltd		105
	222,900	*	NGEx Resources, Inc		578
	1,440,500		Nickel Asia Corp		603
	109,585	e	Nihon Nohyaku Co Ltd		530
	59,874		Nihon Parkerizing Co Ltd		910
	139,000	e	Nihon Yamamura Glass Co Ltd		333
	2,886,000	e	Nine Dragons Paper Holdings Ltd		1,441
	115,000		Nippon Denko Co Ltd		292
	213,000	e	Nippon Kayaku Co Ltd		2,283
	102,000		Nippon Koshuha Steel Co Ltd		102
	679,000		Nippon Light Metal Co Ltd		647
	273,523		Nippon Paint Co Ltd		2,297
	79,553	e	Nippon Paper Group, Inc		936
	313,000		Nippon Shokubai Co Ltd		3,501
	182,000		Nippon Soda Co Ltd		786
	1,442,958	*,e	Nippon Steel Corp		2,955
	67,810		Nippon Synthetic Chemical Industry Co Ltd		442
	191,000		Nippon Valqua Industries Ltd		524
	149,500	*	Nippon Yakin Kogyo Co Ltd		134
	183,600	e	Nissan Chemical Industries Ltd		2,048
	132,000		Nittetsu Mining Co Ltd		543
	355,452		Nitto Denko Corp		16,919
	344,921	e	NOF Corp		1,657
	182,353	e	Noranda Aluminium Holding Corp		1,220
	54,885	*	Norbord, Inc		971
	95,693		Norddeutsche Affinerie AG.		5,586
	70,282	*	Nordic Mines AB		95
	212,674		Norsk Hydro ASA		999
	194,022	*,e	North American Palladium Ltd		369
	13,010,000	*	North Mining Shares Co Ltd		778
	269,910		Northam Platinum Ltd		970
	77,963	*,e	Northern Dynasty Minerals		361
	205,853	*	Northern Iron Ltd		178
	337,432		Northern Star Resources Ltd		415
	617,430	*,e	Northland Resources S.A.		453
	508,949	*,e	Novagold Resources, Inc		2,842
	70,405	f	Novolipetsk Steel (GDR) (purchased 10/07/11, cost $1,874)		1,401
	48,405		Novozymes AS		1,335
	709,824		Nucor Corp		27,158
	436,670	e	Nufarm Ltd		2,746
	403,934	e	Nuplex Industries Ltd		963
	370,399	e	Nyrstar		2,333
	86,450	*	Nyrstar (Strip VVPR)		0	^
	124,000	*	Ocean Plastics Co Ltd		126
	540,800	*	OceanaGold Corp		1,793
	19,400		Ohara, Inc		160
	1,688,752	e	OJI Paper Co Ltd		5,139
	41,000	*	Okabe Co Ltd		258
	94,000		Okamoto Industries, Inc		396
	302,431		Olin Corp		6,572

107

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	34,667		Olympic Steel, Inc	$	585
	173,651	*,e	OM Group, Inc		3,219
	350,588	*,e	OM Holdings Ltd		106
	48,314		Omnia Holdings Ltd		726
	158,884	*	Omnova Solutions, Inc		1,203
	5,230,156	e	OneSteel Ltd		2,932
	499,194		Orica Ltd		12,837
	11,200		Orient Paper & Industries Ltd		16
	750,200		Oriental Union Chemical Corp		852
	971		Orissa Minerals Development Co Ltd		835
	20,000	e	Osaka Steel Co Ltd		326
	639,068	*	Osisko Mining Corp		6,332
	1,303,126	e	Outokumpu Oyj		1,395
	853,953	*	Owens-Illinois, Inc		16,020
	163,597		Oxiana Ltd		1,136
	188,507	e	Pacific Metals Co Ltd		641
	14,800		Pack Corp		275
	356,778		Packaging Corp of America		12,951
	43,771		Palabora Mining Co Ltd		469
	2,329,426	e	Pan African Resources plc		679
	345,862	e	Pan American Silver Corp		7,416
	956,084	e	Pan Australian Resources Ltd		3,010
	85,539		Papeles y Cartones de Europa S.A.		221
	461,457	*,e	Paramount Gold and Silver Corp		1,227
	330,812		Park Elektrik Madencilik Sanayi Ve Ticaret AS		1,234
	544,263	*,e	Patagonia Gold plc		264
	373,349	*	Perilya Ltd		121
	577,688	*,e	Perseus Mining Ltd		1,737
	281,873		Peter Hambro Mining plc		1,866
	506,462	*	Petra Diamonds Ltd		957
	4,018,900		Petronas Chemicals Group BHD		8,394
	264,041	*,m	Pike River Coal Ltd		0	^
	1,137,533		PolyOne Corp		18,849
	7,560		Poongsan		166
	29,410		Poongsan Corp		922
	406,266		Portucel Empresa Produtora de Pasta e Papel S.A.		1,085
	115,959		POSCO		37,948
	48,800		POSCO M-Tech Co Ltd		335
	8,651		POSCO Refractories & Environment Co Ltd		1,192
	1,127,272		Potash Corp of Saskatchewan Toronto		48,995
	1,125,346		PPG Industries, Inc		129,234
	933,311		Praxair, Inc		96,951
	160,400	*	Premier Gold Mines Ltd		1,039
	303,300		Press Metal BHD		163
	96,000	*	Pretium Resources, Inc		1,258
	681,011		Pretoria Portland Cement Co Ltd		2,367
	34,154		Prism Cement Ltd		36
	6,726,000		PT Aneka Tambang Tbk		945
	2,327,500	*	PT Barito Pacific Tbk		119
	22,947,000	*	PT Darma Henwa Tbk		119
	3,659,500		PT Holcim Indonesia Tbk		1,086
	3,045,000	*	PT Indah Kiat Pulp and Paper Corp Tbk		324

108

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	4,485,300		PT Indocement Tunggal Prakarsa Tbk	$	9,503
	4,991,500		PT International Nickel Indonesia Tbk		1,529
	8,368,500		PT Krakatau Steel Tbk		584
	3,255,500	*	PT Polychem Indonesia Tbk		122
	7,642,100		PT Semen Gresik Persero Tbk		11,507
	4,181,000		PT Timah Tbk		674
	2,000,887		PTT Global Chemical PCL		4,090
	178,800		PTT Global Chemical PCL (ADR)		365
	47,321		Quaker Chemical Corp		2,208
	475,848	*,e,m	Qualipak International Holdings Ltd		60
	144,200	*	Queenston Mining, Inc		590
	93,891		Rain Commodities Ltd		73
	102,400	*,e	Rainy River Resources Ltd		602
	17,540		Rallis India Ltd		48
	332,357	e	Ramelius Resources Ltd		135
	98,353		Randgold Resources Ltd		12,099
	111,504	e	Rautaruukki Oyj		704
	42,000		Recticel S.A.		278
	496,640	*	Regis Resources Ltd		2,921
	354,446		Reliance Steel & Aluminum Co		18,555
	272,767		Rengo Co Ltd		1,253
	291,621	*,e	Resolute Forest Products		3,791
	2,197,802	*,e	Resolute Mining Ltd		4,401
	97,792	*,e	Revett Minerals, Inc		348
	161,353	*	Rex Minerals Ltd		100
	261,045		Rexam plc		1,837
	53,117	e	RHI AG.		1,413
	81,738	*	Rio Alto Mining Ltd		433
	757,398	e	Rio Tinto Ltd		41,602
	2,929,624		Rio Tinto plc		136,987
	56,623	e	Rio Tinto plc (ADR)		2,648
	163,411		Rock-Tenn Co (Class A)		11,795
	216,446		Rockwood Holdings, Inc		10,086
	819,200	*	Romarco Minerals, Inc		892
	81,850	*	Royal Bafokeng Platinum Ltd		481
	215,269	e	Royal Gold, Inc		21,497
	361,379		RPC Group plc		2,490
	173,824		RPM International, Inc		4,961
	137,537	*	RTI International Metals, Inc		3,293
	349,400	*,e	Rubicon Minerals Corp		1,311
	19,393		Sa des Ciments Vicat		1,040
	195,500	*	Sabina Gold & Silver Corp		652
	7,659,040	*	Sahaviriya Steel Industries PCL		149
	209,000		Sakai Chemical Industry Co Ltd		613
	269,929		Sally Malay Mining Ltd		151
	6,838		Salzgitter AG.		265
	6,309		Sam Kwang Glass Ind Co Ltd		318
	25,546		Samsung Fine Chemicals Co Ltd		1,528
	142,758		San Fang Chemical Industry Co Ltd		116
	414,800	*	San Gold Corp		451
	239,713	*,e	Sandfire Resources NL		2,068
	81,000		Sanyo Chemical Industries Ltd		417

109

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	139,000	*,e	Sanyo Special Steel Co Ltd	$	429
	692,634	*,e	Sappi Ltd		1,981
	495,267	*,e	Saracen Mineral Holdings Ltd		253
	916,500		Sateri Holdings Ltd		177
	320,900		Satipel Industrial S.A.		2,104
	235,213		Schmolz + Bickenbach AG.		954
	94,182	e	Schnitzer Steel Industries, Inc (Class A)		2,651
	159,369		Schweitzer-Mauduit International, Inc		5,258
	107,799	e	Scotts Miracle-Gro Co (Class A)		4,686
	54,595	*	Seabridge Gold, Inc		1,062
	43,506		Seah Besteel Corp		1,488
	2,498		SeAH Holdings Corp		224
	11,881		SeAH Steel Corp		1,208
	1,911,789	e	Sealed Air Corp		29,556
	872,000	e	Sekisui Plastics Co Ltd		2,142
	819,836	e	SEMAFO, Inc		3,744
	126,421		Semapa-Sociedade de Investimento e Gestao		810
	181,013		Sensient Technologies Corp		6,654
	375,613	*	Sentula Mining Ltd		81
	27,948	e	Sequana		57
	568,113		Sesa Goa Ltd		1,839
	17,000		Sesoda Corp		19
	425,295	e,f	Severstal (GDR) (purchased 01/07/11, cost $6,451)		5,335
	303,000	e	Shandong Chenming Paper Holdings Ltd		102
	303,100		Shandong Chenming Paper Holdings Ltd (Class B)		106
	155,400	*	Shanghai Chlor-Alkali Chemical Co Ltd		68
	246,300		Shanghai Yaohua Pilkington Glass Co Ltd		100
	201,000		Sheng Yu Steel Co Ltd		128
	665,360	e	Sherritt International Corp		3,370
	657,900		Sherwin-Williams Co		97,967
	218,000	*	Shihlin Paper Corp		405
	47,000		Shikoku Chemicals Corp		284
	498,827		Shin-Etsu Chemical Co Ltd		28,034
	60,200		Shin-Etsu Polymer Co Ltd		230
	1,855,032		Shinkong Synthetic Fibers Corp		648
	259,000		Shiny Chemical Industrial Co Ltd		343
	3,738,000	e	Shougang Concord International Enterprises Co Ltd		170
	1,710,660	e	Showa Denko KK		2,714
	120,000		Siam Cement PCL		1,357
	33,800		Siam Cement PCL (ADR)		382
	421,400		Siam Cement PCL (Foreign)		5,431
	184,645		Sigma-Aldrich Corp		13,289
	481,000		Sijia Group Co		105
	681		Sika AG.		1,389
	122,519		Silgan Holdings, Inc		5,331
	210,324	*,e	Silver Lake Resources Ltd		788
	108,342	*,e	Silver Standard Resources, Inc		1,743
	735,827	e	Silver Wheaton Corp		29,250
	390,524	e	Silvercorp Metals, Inc		2,534
	122,642	e	Sims Group Ltd		1,213
	1,468,000		Sinochem Hong Kong Holding Ltd		286
	283,627	*,e	Sino-Forest Corp		3

110

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	878,000		Sinon Corp	$	411
	8,137,400	e	Sinopec Shanghai Petrochemical Co Ltd		2,084
	1,366,171	*	Sirius Minerals plc		496
	37,792		SK Chemicals Co Ltd		2,211
	24,767		SKC Co Ltd		971
	524,350		Smurfit Kappa Group plc		5,279
	202,154		Sociedad Quimica y Minera de Chile S.A. (ADR)		12,461
	265,203		Sociedad Quimica y Minera de Chile S.A. (Class B)		16,369
	3,208		Societe Internationale de Plantations d’Heveas S.A.		273
	220,542		Soda Sanayii AS		355
	9,872		SODIFF Advanced Materials Co Ltd		388
	522,478		Solar Applied Materials Technology Co		679
	59,694		Solvay S.A.		6,918
	15,770		Songwon Industrial Co Ltd		164
	123,160		Sonoco Products Co		3,817
	259,351		South Valley Cement		233
	385,000		Southeast Cement Co Ltd		176
	1,697,615	e	Southern Copper Corp (NY)		58,330
	121,045	*,e	Spartech Corp		648
	26,951	e	Ssab Svenskt Stal AB (Series A)		192
	55,490	*	Ssangyong Cement Industrial Co Ltd		282
	1,802,875	*,e	St Barbara Ltd		4,013
	17,200		ST Corp		197
	329,150	e	Steel Dynamics, Inc		3,696
	11,500	e	Stella Chemifa Corp		218
	30,343		Stepan Co		2,917
	2,703,431		Sterlite Industries India Ltd		5,094
	418,289	*	Stillwater Mining Co		4,932
	4,828		STO AG.		665
	542,161	e	Stora Enso Oyj (R Shares)		3,378
	87,300		STP & I PCL		130
	782,221	e	Sumitomo Bakelite Co Ltd		2,719
	1,513,948	e	Sumitomo Chemical Co Ltd		3,857
	1,572,000	e	Sumitomo Light Metal Industries Ltd		1,365
	1,424,527		Sumitomo Metal Industries Ltd		2,090
	919,830		Sumitomo Metal Mining Co Ltd		11,573
	766,193		Sumitomo Osaka Cement Co Ltd		2,723
	61,000		Sumitomo Seika Chemicals Co Ltd		218
	24,712	e	Sumitomo Titanium Corp		513
	308,827	*,e	SunCoke Energy, Inc		4,978
	3,011,979	*	Sundance Resources Ltd		1,062
	13,211		Supreme Industries Ltd		71
	173,855		Symrise AG.		5,894
	268,284		Syngenta AG.		100,359
	1,357,222		Synthos S.A.		2,420
	1,178,200		TA Chen Stainless Pipe		647
	1,135		Taekwang Industrial Co Ltd		968
	185,910	*,e	Tahoe Resources, Inc		3,785
	123,100	*	Tahoe Resources, Inc (Toronto)		2,507
	1,781,264		Taiheiyo Cement Corp		3,835
	3,973,988		Taiwan Cement Corp		4,904
	1,497,500		Taiwan Fertilizer Co Ltd		4,048

111

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	309,345		Taiwan Hon Chuan Enterprise Co Ltd	$	676
	155,000		Taiwan Prosperity Chemical Corp		252
	175,960		Taiwan Pulp & Paper Corp		57
	1,234,000	*	Taiwan Styrene Monomer		421
	19,700	e	Taiyo Ink Manufacturing Co Ltd		548
	309,560	e	Taiyo Nippon Sanso Corp		1,628
	123,000		Takasago International Corp		636
	102,000		Takiron Co Ltd		377
	478,032	*,e	Talvivaara Mining Co plc		1,164
	152,000	*	Tang Eng Iron Works Co Ltd		165
	168,229	*	Tanzanian Royalty Exploration Corp		864
	289,959	*	Taseko Mines Ltd		962
	405,922		Tata Steel Ltd		3,078
	2,370,800	*	Tata Steel Thailand PCL		62
	13,231		Technosemichem Co Ltd		507
	864,703		Teck Cominco Ltd		25,516
	7,960,412	e	Teijin Ltd		19,452
	36,800		Tenma Corp		380
	10,000		Ternium S.A. (ADR)		196
	54,544		Tessenderlo Chemie NV		1,529
	83,469	*,e	Texas Industries, Inc		3,393
	57,210	*	Texas Petrochemicals, Inc		2,335
	214,881	*,e	Thompson Creek Metals Co, Inc (Toronto)		612
	211,000		Thye Ming Industrial Co Ltd		227
	66,042		ThyssenKrupp AG.		1,407
	2,942,000		Tiangong International Co Ltd		596
	1,255,864	*,e	Tiger Resources Ltd		453
	74,561		Tikkurila Oy		1,417
	91,356		Titan Cement Co S.A.		1,763
	105,679	e	Titanium Metals Corp		1,356
	581,000		Toagosei Co Ltd		2,185
	40,000	e	Toda Kogyo Corp		142
	42,400	e	Toho Titanium Co Ltd		389
	169,000	e	Toho Zinc Co Ltd		591
	1,035,000		Tokai Carbon Co Ltd		3,154
	1,230,000	e	Tokuyama Corp		2,518
	126,400	e	Tokyo Ohka Kogyo Co Ltd		2,708
	152,796	e	Tokyo Rope Manufacturing Co Ltd		184
	135,200		Tokyo Steel Manufacturing Co Ltd		456
	1,317,750		Ton Yi Industrial Corp		765
	18,613	*	Tong Yang Major Corp		15
	434,594	e	Topy Industries Ltd		872
	1,072,534	e	Toray Industries, Inc		6,345
	685,722	e	Tosoh Corp		1,302
	479,000		Toyo Ink Manufacturing Co Ltd		1,714
	129,000		Toyo Kohan Co Ltd		377
	123,744		Toyo Seikan Kaisha Ltd		1,322
	1,555,500		TPI Polene PCL		650
	85,568	e	Tredegar Corp		1,518
	206,981		Troy Resources NL		1,060
	849,035		TSRC Corp		1,876
	122,685	*,e	Tubacex S.A.		309

112

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	127,313	e	Tubos Reunidos S.A.	$	311
	1,048,676		Tung Ho Steel Enterprise Corp		1,071
	1,911,359		UBE Industries Ltd		4,104
	206,764		Uflex Ltd		365
	20,305	*,e	UFP Technologies, Inc		357
	99,992		Ultra Tech Cement Ltd		3,724
	397,631	e	Umicore		20,815
	34,600		Uniao de Industrias Petroquimicas S.A.		6
	9,791		Unid Co Ltd		366
	110,000	*	Unipetrol		962
	298,272		United Phosphorus Ltd		743
	9,825	*	United States Lime & Minerals, Inc		474
	174,912	e	United States Steel Corp		3,336
	619,000		Universal Cement Corp		312
	25,138	*,e	Universal Stainless & Alloy		934
	896,625		UPC Technology Corp		492
	1,038,109		UPM-Kymmene Oyj		11,772
	379,791	f	Uralkali (GDR) (purchased 07/22/11, cost $17,216)		15,762
	198,209	*,e	US Antimony Corp		387
	75,897	*,e	US Silica Holdings Inc		1,029
	48,850		Usha Martin Ltd		23
	2,021,987		USI Corp		1,757
	438,462		Usinas Siderurgicas de Minas Gerais S.A. (Preference)		2,189
	2,544,994		Vale S.A.		45,809
	3,436,976		Vale S.A. (Preference)		59,796
	522,190		Valspar Corp		29,295
	219,351	e	Vedanta Resources plc		3,659
	477		Vetropack Holding AG.		848
	236,245		Victrex plc		5,055
	1,048,300		Vinythai PCL		629
	124,807	*	Viohalco S.A.		525
	226,432	*,e	Vista Gold Corp		822
	155,551	e	Voestalpine AG.		4,663
	1,803,136		Volcan Cia Minera S.A.		2,027
	316,050	e	Vulcan Materials Co		14,950
	4,331	e	Wacker Chemie AG.		278
	1,772,772		Walter Energy, Inc		57,544
	165,423	e	Wausau Paper Corp		1,532
	177,248		Welspun-Gujarat Stahl Ltd		340
	2,818,000	e	West China Cement Ltd		491
	46,262	e	West Fraser Timber Co Ltd		2,632
	479,731	e	Western Areas NL		2,112
	344,228	e	Westlake Chemical Corp		25,149
	24,410	*,e	WHX Corp		361
	1,975,000	e	Winsway Coking Coal Holding Ltd		269
	277,832	*	Worthington Industries, Inc		6,018
	755,932	*	WR Grace & Co		44,660
	262,500		WTK Holdings BHD		89
	2,572,200	e	Xingda International Holdings Ltd		806
	1,118,000	e	Xinjiang Xinxin Mining Industry Co Ltd		201
	500,000		Xiwang Special Steel Co Ltd		81
	2,041,092		Xstrata plc		31,663

113

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	127,137		Xxentria Technology Materials Corp	$	234
	929,310	e	Yamana Gold, Inc		17,752
	12,711		Yamato Kogyo Co Ltd		374
	606,388		Yara International ASA		30,449
	570,000		Yeun Chyang Industrial Co Ltd		338
	1,895,670		Yieh Phui Enterprise		591
	2,087,000	e	Yingde Gases		1,842
	446,000	e	Yip’s Chemical Holdings Ltd		291
	291,000	e	Yodogawa Steel Works Ltd		979
	50,460		Youlchon Chemical Co Ltd		391
	852,000		Youyuan International Holdings Ltd		218
	2,856,285		Yuen Foong Yu Paper Manufacturing Co Ltd		1,217
	746,500	*	Yukon-Nevada Gold Corp		232
	350,178		Yule Catto & Co plc		940
	115,000		Yung Chi Paint & Varnish Manufacturing Co Ltd		230
	13,331		Zaklady Azotowe Pulawy S.A.		512
	20,300	*	Zaklady Azotowe w Tarnowie-Moscicach S.A.		318
	476,512	e	Zeon Corp		3,313
	83,916		Zep, Inc		1,269
	1,395,500	e	Zhaojin Mining Industry Co Ltd		2,528
	71,454		Zignago Vetro S.p.A.		423
	8,595,000	e	Zijin Mining Group Co Ltd		3,444
	99,471	*,e	Zoltek Cos, Inc		765
	1,206	*,m	Zuari Holdings Ltd		8
			TOTAL MATERIALS		6,669,073
MEDIA - 3.3%
	1,236,351		Aegis Group plc		4,705
	89,560		Agora S.A.		209
	248,960		Aimia, Inc		3,733
	146,979	*	AMC Networks, Inc		6,397
	103,936		Antena 3 de Television S.A.		475
	575,901	e	APN News & Media Ltd		203
	134,934		Arbitron, Inc		5,114
	170,172		Arnoldo Mondadori Editore S.p.A.		218
	5,931	*,e	Artprice.com		178
	40,900		Asatsu-DK, Inc		1,046
	107,000	e	Astral Media, Inc		5,244
	44,759		Avex Group Holdings, Inc		920
	120,265		Axel Springer AG.		5,216
	9,630	*,e	Beasley Broadcasting Group, Inc		47
	2,264,500		BEC World PCL (Foreign)		5,603
	332,720		Belo (A.H.) Corp (Class A)		2,605
	4,120,600		Benpres Holdings Corp		548
	119,752	*	Borussia Dortmund GmbH & Co KGaA		394
	7,432,256		British Sky Broadcasting plc		89,206
	249,674		Cablevision Systems Corp (Class A)		3,957
	59,456		Cairo Communication S.p.A.		203
	120,997		Canal Plus		745
	93,776	*	Carmike Cinemas, Inc		1,055
	4,195,269		CBS Corp (Class B)		152,414
	71,000	*,e	Central European Media Enterprises Ltd (Class A)		474

114

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	158,636	*,e	Central European Media Enterprises Ltd (Class A) Nasdaq	$	1,033
	257,437	*,e	Charter Communications, Inc		19,326
	197,840		Cheil Communications, Inc		4,196
	78,978		Chime Communications plc		297
	297,424		Cinemark Holdings, Inc		6,671
	78,400	e	Cineplex Galaxy Income Fund		2,384
	239,744		Cineworld Group plc		966
	25,640		CJ CGV Co Ltd		661
	25,844	*	CJ E&M Corp		671
	50,527		Clear Channel Outdoor Holdings, Inc (Class A)		302
	22,982		Cogeco Cable, Inc		872
	16,512,638		Comcast Corp (Class A)		590,656
	6,400	*,e	COOKPAD, Inc		188
	9,548,000	*	Coolpoint Energy Ltd		80
	175,957	*,e	Corus Entertainment, Inc		4,093
	138,313	*,e	Crown Media Holdings, Inc (Class A)		231
	53,087		CTS Eventim AG.		1,579
	205,961	*,e	Cumulus Media, Inc (Class A)		564
	907	e	CyberAgent, Inc		1,950
	187,198	*	Cyfrowy Polsat S.A.		858
	111,050		Daekyo Co Ltd		603
	54,400		Daiichikosho Co Ltd		1,307
	3,674	*,e	Daily Journal Corp		345
	754,352		Daily Mail & General Trust		5,872
	6,164,808	*	DEN Networks Ltd		20,202
	206,442	e	Dentsu, Inc		5,229
	6,451	*,e	Dial Global, Inc		17
	112,308	*,e	Digital Generation, Inc		1,276
	3,293,370	*	DIRECTV		172,769
	590,330	*	Discovery Communications, Inc (Class A)		35,201
	182,830	*	Discovery Communications, Inc (Class C)		10,246
	4,167,393		DISH Network Corp (Class A)		127,564
	772,072	*	Dogan Yayin Holding		263
	130,376	*,e	DreamWorks Animation SKG, Inc (Class A)		2,507
	80,662	*	EM.Sport Media AG.		151
	146,655	*,e	Eniro AB		203
	87,694	*,e	Entercom Communications Corp (Class A)		602
	209,232	e	Entravision Communications Corp (Class A)		280
	21,981	*	Eros International Media Ltd		67
	1,115,000	*	eSun Holdings Ltd		150
	74,636		Euromoney Institutional Investor plc		929
	275,595		Eutelsat Communications		8,855
	111,439	*	EW Scripps Co (Class A)		1,187
	1,157	*	Fenerbahce Sportif Hizmetleri Sanayi ve Ticaret AS		28
	37,168	*	Fisher Communications, Inc		1,366
	4,040		Fuji Television Network, Inc		6,609
	143,000	e	Gakken Co Ltd		373
	243		Galatasaray Sportif Sinai ve Ticari Yatirimlar AS		6
	572	*	Galatasaray Sportif Sinai ve Ticari Yatirimlar AS. - New		13
	1,179,305		Gannett Co, Inc		20,933
	215,592	e	Gestevision Telecinco S.A.		1,171

115

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	31,291		GFK AG.	$	1,410
	68,485	*,e	Global Sources Ltd		449
	5,129,527	e	Grupo Televisa S.A.		24,217
	369,016		Gruppo Editoriale L’Espresso S.p.A.		383
	41,266	e	Hakuhodo DY Holdings, Inc		2,780
	160,968	e	Harte-Hanks, Inc		1,116
	8,909	*	Hathway Cables and Datacom Pvt Ltd		38
	638,234		Havas S.A.		3,286
	38,297		Hot Telecommunication System Ltd		362
	242,999	*	Hurriyet Gazetecilik AS		109
	100,080	*	Hyundai Hy Communications & Network Co		395
	6,552,000	*	Imagi International Holdings Ltd		87
	461,167	*,e	Independent News & Media plc		82
	989,274		Informa plc		6,445
	5,353,125		Interpublic Group of Cos, Inc		59,527
	46,964		IPSOS		1,502
	9,655		Israel Land Development Co Ltd		39
	8,028,129		ITV plc		11,476
	12,757		Jagran Prakashan Ltd		22
	1,187,865	e	JC Decaux S.A.		26,889
	4,431,101	e	John Fairfax Holdings Ltd		1,897
	60,777		John Wiley & Sons, Inc (Class A)		2,793
	168,806	*	Journal Communications, Inc (Class A)		878
	1,342		Jupiter Telecommunications Co		1,362
	97,559	*	Juventus Football Club S.p.A.		28
	214,316	*	Kabel Deutschland Holding AG.		15,299
	18,981	e	Kadokawa Holdings, Inc		561
	9,512		Kinepolis		943
	27,180	*	KT Skylife Co Ltd		748
	20,217		Lagardere S.C.A.		552
	112,754	*,e	Lamar Advertising Co (Class A)		4,179
	922,973	*	Liberty Global, Inc (Class A)		56,071
	405,478	*	Liberty Interactive LLC		42,239
	150,892	*,e	Lin TV Corp (Class A)		664
	311,070	*,e	Lions Gate Entertainment Corp		4,750
	614,102	*	Live Nation, Inc		5,287
	185,739		M6-Metropole Television		2,533
	157,047	*	Madison Square Garden, Inc		6,324
	283,300		Major Cineplex Group PCL		173
	501,600		Major Cineplex Group PCL (ADR)		307
	107,177	e	Martha Stewart Living Omnimedia, Inc (Class A)		329
	193,419	*,e	McClatchy Co (Class A)		431
	667,229	e	McGraw-Hill Cos, Inc		36,424
	454,600		MCOT PCL		439
	98,588	e	MDC Partners, Inc		1,217
	152,381	e	Mecom Group plc		205
	1,202,800		Media Chinese International Ltd		643
	77	*,e	Media General, Inc (Class A)		0^
	2,565,800		Media Prima BHD		1,947
	131,070		Mediaset S.p.A.		247
	132,223	e	Meredith Corp		4,628
	7,812		Modern Times Group AB (B Shares)		346

116

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	59,704	e	Morningstar, Inc	$	3,740
	654,999		Naspers Ltd (N Shares)		40,624
	302,171	e	National CineMedia, Inc		4,947
	161,717		Navneet Publications India		178
	602,517	*,e	New York Times Co (Class A)		5,881
	4,700,730		News Corp (Class A)		115,309
	44,539	*	Nexstar Broadcasting Group, Inc (Class A)		473
	33,426		NRJ Group		253
	1,061,487		Omnicom Group, Inc		54,730
	830,000		Oriental Press Group		85
	78,060	e	Outdoor Channel Holdings, Inc		568
	397,165	e	PagesJaunes Groupe S.A.		738
	256,110	*,e	Pandora Media, Inc		2,804
	2,225,918		Pearson plc		43,513
	3,070,000	e	Phoenix Satellite Television Holdings Ltd		955
	1,822,000		Pico Far East Holdings Ltd		432
	505,230	*	Premiere AG.		2,025
	365,953	*,e	Promotora de Informaciones S.A.		177
	414,739		ProSiebenSat.1 Media AG.		10,456
	11,600		Proto Corp		182
	33,655,000		PT Bhakti Investama Tbk		1,731
	100		PT Global MediaCom Tbk		0	^
	51,787,900	*	PT MNC Sky Vision Tbk		11,229
	378,734		PT Multimedia Servicos de Telecomunicacoes e Multimedia SGPS S.A.		1,064
	706,500		PT Surya Citra Media Tbk		812
	231,949		Publicis Groupe S.A.		12,974
	4,043		PubliGroupe AG.		568
	188,457	e	Publishing & Broadcasting Ltd		660
	98,436		Quebecor, Inc		3,277
	213,601	*,e	RCS MediaGroup S.p.A.		365
	117,559	e	REA Group Ltd		1,907
	35,717	*,e	ReachLocal, Inc		448
	60,186	*,e	Reading International, Inc		355
	3,037,950		Reed Elsevier NV		40,519
	8,328,950		Reed Elsevier plc		79,735
	772,533	e	Regal Entertainment Group (Class A)		10,870
	38,316	*	Rentrak Corp		649
	215,547		Rightmove plc		5,463
	4,652		Roularta Media Group NV		80
	14,326	*	Saga Communications, Inc		580
	24,038		Salem Communications		126
	103,738		Sanoma-WSOY Oyj		931
	56,500		Saraiva S.A. Livreiros Editores		641
	119,150		SBS Media Holdings Co Ltd		705
	118,810	e	Schibsted ASA		4,547
	120,251		Scholastic Corp		3,822
	887,353		Scripps Networks Interactive (Class A)		54,333
	149,788		SES Global S.A.		4,073
	715,160	*,e	Shaw Communications, Inc (B Shares)		14,636
	104,000	e	Shochiku Co Ltd		1,035
	176,267		Sinclair Broadcast Group, Inc (Class A)		1,976

117

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	397,038	e	Singapore Press Holdings Ltd	$	1,314
	990,000		SinoMedia Holding Ltd		416
	9,941,768	*,e	Sirius XM Radio, Inc		25,849
	618,542		Sky Network Television Ltd		2,609
	5,729		Sky Perfect Jsat Corp		2,580
	15,502	*	SM Entertainment Co		830
	2,680,000	*	SMI Corp Ltd		65
	149,536	e	Societe Television Francaise 1		1,244
	705,424	e	Southern Cross Media Group		734
	2,734	*	Spir Communication		61
	1,111,983	*	Stroer Out-of-Home Media AG.		11,465
	613,718	e	STW Communications Group Ltd		646
	124,304		T4F Entretenimento S.A.		865
	709,670	*	Telecom Italia Media S.p.A.		166
	796,947		Television Broadcasts Ltd		5,884
	1,157,017	e,m	Ten Network Holdings Ltd		436
	69,807	*	Tera Resource Co Ltd		76
	847,860		Thomson Corp		24,469
	543,504	e	Thomson Corp (Toronto)		15,712
	1,678,244		Time Warner Cable, Inc		159,533
	3,111,552		Time Warner, Inc		141,047
	296,000		Toei Animation Co Ltd		6,965
	415,885		Toei Co Ltd		2,331
	92,417	e	Toho Co Ltd		1,699
	22,600		Tohokushinsha Film Corp		175
	138,600		Tokyo Broadcasting System, Inc		1,449
	122,197		Torstar Corp		1,073
	100,300		TV Asahi Corp		1,493
	2,942,100	e	TV Azteca S.A. de C.V.		2,027
	16,800		TV Tokyo Corp		190
	76,529		TVN S.A.		166
	437,055		United Business Media Ltd		4,951
	143,246	*,e	Usen Corp		152
	144,081	*,e	Valassis Communications, Inc		3,557
	8,329	e	Value Line, Inc		81
	3,666,012		Viacom, Inc (Class B)		196,461
	1,516,062	e	Virgin Media, Inc		44,633
	4,114,000		VODone Ltd		370
	9,315,394		Walt Disney Co		487,008
	5,148	e	Washington Post Co (Class B)		1,869
	1,227,546		West Australian Newspapers Holdings Ltd		1,441
	319,383		Wolters Kluwer NV		6,000
	44,810	*	Woongjin Holdings Co Ltd		36
	29,600		Woongjin Thinkbig Co Ltd		160
	98,804	e	World Wrestling Entertainment, Inc (Class A)		795
	2,546,807		WPP plc		34,690
	4,998	*	YG Entertainment, Inc		429
	1,033,556		ZEE Telefilms Ltd		3,819
	51,500		Zenrin Co Ltd		686
			TOTAL MEDIA		3,438,757

118

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
PHARMACEUTICALS, BIOTECHNOLOGY & LIFE SCIENCES - 7.5%
	18,156	*,e	AB Science S.A.	$	233
	8,827,982		Abbott Laboratories		605,245
	393,884		Abcam plc		2,561
	27,840	*	Ablynx NV		165
	228,847	*,e	Achillion Pharmaceuticals, Inc		2,382
	227,530	*	Acorda Therapeutics, Inc		5,827
	193,705		Acrux Ltd		640
	135,090		Actelion Ltd		6,771
	49,050	*,e	Active Biotech AB		355
	20,264	*,e	Acura Pharmaceuticals, Inc		35
	496,915		Adcock Ingram Holdings Ltd		3,534
	78,595	*,e	Aegerion Pharmaceuticals, Inc		1,165
	155,135	*,e	Affymax, Inc		3,267
	574,274	*,e	Affymetrix, Inc		2,487
	130,372	*,e	Agenus, Inc		601
	1,815,470		Agilent Technologies, Inc		69,804
	472,039	*,e	Akorn, Inc		6,240
	1,480,746	*	Alexion Pharmaceuticals, Inc		169,397
	41,275	*,e	Algeta ASA		1,067
	8,779		ALK-Abello AS		565
	677,673	*	Alkermes plc		14,062
	1,692,776		Allergan, Inc		155,024
	170,633	*,e	Alnylam Pharmaceuticals, Inc		3,206
	159,419	*,e	AMAG Pharmaceuticals, Inc		2,828
	3,717,289		Amgen, Inc		313,443
	100,807	*,e	Amicus Therapeutics, Inc		524
	76,413	*,e	Ampio Pharmaceuticals, Inc		298
	52,639	*,e	Anacor Pharmaceuticals, Inc		346
	513,586		Apex Biotechnology Corp		1,295
	996,609	*,e	Arena Pharmaceuticals, Inc		8,292
	550,524	*	Ariad Pharmaceuticals, Inc		13,336
	253,953	*	Arqule, Inc		1,298
	302,688	*	Array Biopharma, Inc		1,774
	31,000		ASKA Pharmaceutical Co Ltd		162
	530,984		Aspen Pharmacare Holdings Ltd		9,137
	642,439	e	Astellas Pharma, Inc		32,559
	522,300	*	Astex Pharmaceuticals		1,603
	440,378		AstraZeneca plc		21,026
	810,404	e	AstraZeneca plc (ADR)		38,786
	209,884		Aurobindo Pharma Ltd		561
	273,876	*	Auxilium Pharmaceuticals, Inc		6,699
	480,991	*,e	AVANIR Pharmaceuticals, Inc		1,539
	161,103	*,e	AVEO Pharmaceuticals, Inc		1,677
	6,116		Bachem Holding AG.		244
	11,315	*	Basilea Pharmaceutica		571
	30,332	*	Bavarian Nordic AS		259
	4,071,182		Bayer AG.		350,078
	17,199,208	*	BB Bioventures L.P.		585
	39,039	*,e	BG Medicine, Inc		144
	104,811		Biocon Ltd		546
	181,812	*,e	BioCryst Pharmaceuticals, Inc		771
	150,813	*,e	BioDelivery Sciences International, Inc		953

119

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	28,974		Biogaia AB (B Shares)	$	859
	1,332,129	*	Biogen Idec, Inc		198,795
	73,472	*,e	BioInvent International AB		25
	948,774	*,e	BioMarin Pharmaceuticals, Inc		38,207
	46,914	*	Bio-Rad Laboratories, Inc (Class A)		5,007
	20,307	*,e	Biospecifics Technologies Corp		394
	411,499	*,e	Biota Holdings Ltd		297
	6,511		Biotest AG. (Preference)		343
	385,090	*	Biotie Therapies Oyj		203
	106,779	*,e	Biotime, Inc		448
	8,731,910	*	Bioton S.A.		191
	378,459		Biovail Corp (Toronto)		20,888
	8,494,248	*	Biovitrum AB		47,608
	11,865		Boiron S.A.		361
	4,090,667		Bristol-Myers Squibb Co		138,060
	228,273	*	Bruker BioSciences Corp		2,988
	498,521	*,e	BTG plc		2,602
	31,972		Bukwang Pharmaceutical Co Ltd		401
	217,917	*,e	Cadence Pharmaceuticals, Inc		854
	261,210	*,e	Cambrex Corp		3,064
	2,920,463	*	Celgene Corp		223,124
	265,712	*,e	Celldex Therapeutics, Inc		1,674
	146,936		Celltrion, Inc		3,682
	8,868	*,e	Cempra, Inc		66
	249,890	*,e	Cepheid, Inc		8,624
	156,862	*	Charles River Laboratories International, Inc		6,212
	11,193	*,e	ChemoCentryx, Inc		130
	67,000		China Chemical & Pharmaceutical Co Ltd		48
	1,085,000	e	China Medical System Holdings Ltd		566
	1,252,000	e	China Pharmaceutical Group Ltd		355
	709,000	e	China Shineway Pharmaceutical Group Ltd		1,016
	36,370		Chong Kun Dang Pharm Corp		913
	19,322		Choongwae Pharma Corp		230
	363,483		Chugai Pharmaceutical Co Ltd		7,618
	606,109		Cipla Ltd		4,351
	980,937		Cipla Medpro South Africa Ltd		784
	5,560,000		CK Life Sciences International Holdings, Inc		514
	33,517	*	Clal Biotechnology Industries Ltd		94
	35,477	*	Clavis Pharma ASA		395
	64,638	*,e	Clovis Oncology, Inc		1,322
	18,600		CMIC Co Ltd		308
	118,213	*,e	Codexis, Inc		358
	143,774	*,e	Corcept Therapeutics, Inc		401
	52,768	*,e	Cornerstone Therapeutics, Inc		271
	78,617	*,e	Coronado Biosciences, Inc		409
	69,669	*	Covance, Inc		3,253
	966,668		CSL Ltd		45,978
	245,091	*	Cubist Pharmaceuticals, Inc		11,686
	44,232	*,e	Cumberland Pharmaceuticals, Inc		286
	309,019	*,e	Curis, Inc		1,279
	194,745	*,e	Cytori Therapeutics, Inc		859
	22,558		Daewoong Pharmaceutical Co Ltd		770

120

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	768,678	e	Daiichi Sankyo Co Ltd	$	12,662
	266,825	e	Dainippon Sumitomo Pharma Co Ltd		2,932
	832,000		Dawnrays Pharmaceutical Holdings Ltd		177
	595,485	*,e	Dendreon Corp		2,876
	198,792	*,e	Depomed, Inc		1,175
	186,617	*	Deva Holding AS		215
	163,975	*,e	Discovery Laboratories, Inc		538
	8,655		Dong-A Pharmaceutical Co Ltd		812
	168,499		Dr Reddy’s Laboratories Ltd		5,237
	2,400	*	Durata Therapeutics, Inc		23
	109,331	*	Dusa Pharmaceuticals, Inc		742
	363,793	*,e	Dyax Corp		946
	625,496	*,e	Dynavax Technologies Corp		2,977
	12,229		Egis Gyogyszergyar Rt		970
	95,153		EIS Eczacibasi Ilac ve Sinai ve Finansal Yatirimlar Sanayi ve Ticaret AS		99
	322,563	e	Eisai Co Ltd		14,531
	77,608	*,e	Elan Corp plc		834
	132,080	*	Elan Corp plc (ADR)		1,416
	2,948,883		Eli Lilly & Co		139,807
	88,923	*	Emergent Biosolutions, Inc		1,264
	265,316	*	Endo Pharmaceuticals Holdings, Inc		8,416
	122,456	*,e	Endocyte, Inc		1,221
	5,745	*,e	Enzo Biochem, Inc		12
	167,394	*,e	Enzon Pharmaceuticals, Inc		1,165
	133	e	EPS Co Ltd		380
	22,484		Eurofins Scientific		3,189
	128,488	*,e	Evolutec Group plc		124
	134,852	*	Evotec AG.		474
	212,617	*,e	Exact Sciences Corp		2,341
	621,005	*,e	Exelixis, Inc		2,993
	3,060,000	*	Extrawell Pharmaceutical Holdings Ltd		177
	382,484	e	FAES FARMA S.A.		667
	11,152		FDC Ltd		19
	96,743	*,e	Fluidigm Corp		1,645
	850,667	*	Forest Laboratories, Inc		30,292
	35,682	*,e	Furiex Pharmaceuticals Inc		681
	132,000	e	Fuso Pharmaceutical Industries Ltd		449
	27,178	*,e	Galapagos NV		570
	52,839	*	Genmab AS		662
	67,823	*,e	Genomic Health, Inc		2,353
	6,752,300	*,e	Genomma Lab Internacional S.A. de C.V.		13,057
	124,030		Genus plc		3,030
	468,860	*,e	Geron Corp		797
	89,695		Gerresheimer AG.		4,691
	4,951,698	*	Gilead Sciences, Inc		328,447
	5,013,546		GlaxoSmithKline plc		115,726
	21,700	*,e	Golf Trust Of America, Inc		162
	6,768		Green Cross Corp		1,030
	12,000		Green Cross Holdings Corp		177
	403,755	*,e	Grifols S.A.		13,345
	98,717	*,e	GTx, Inc		452

121

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	303,769	*,e	Halozyme Therapeutics, Inc	$	2,296
	25,910	*	Han All Pharmarceutical Co		159
	5,240		Handok Pharmaceuticals Co Ltd		61
	6,178	*	Hanmi Pharm Co Ltd		519
	92,970	*	Harvard Bioscience, Inc		393
	12,945		Haw Par Corp Ltd		70
	185,928		Hikma Pharmaceuticals plc		2,183
	63,731	e	Hisamitsu Pharmaceutical Co, Inc		3,527
	70,546	*	Hi-Tech Pharmacal Co, Inc		2,336
	168,771	*,e	Horizon Pharma, Inc		586
	209,464	*	Hospira, Inc		6,875
	3,720,000	e	Hua Han Bio-Pharmaceutical Holdings Ltd		773
	332,003	*,e	Idenix Pharmaceuticals, Inc		1,517
	3,900		Il Dong Pharmaceutical Co Ltd		27
	611,842	*,e	Illumina, Inc		29,491
	2,924		Ilsung Pharmaceuticals Co Ltd		223
	18,415		Ilyang Pharmaceutical Co Ltd		448
	284,304	*,e	ImmunoCellular Therapeutics Ltd		799
	311,378	*,e	Immunogen, Inc		4,546
	265,789	*,e	Immunomedics, Inc		933
	244,789	*	Impax Laboratories, Inc		6,355
	248,221	*,e	Incyte Corp		4,480
	95,268	*,e	Infinity Pharmaceuticals, Inc		2,244
	53,810	*,e	Intercell AG.		127
	250,197	*,e	InterMune, Inc		2,244
	17,937		Ipca Laboratories Ltd		165
	37,753		Ipsen		920
	273,799	*,e	Ironwood Pharmaceuticals, Inc		3,499
	369,644	*,e	Isis Pharmaceuticals, Inc		5,201
	385,505	*	Jazz Pharmaceuticals plc		21,978
	19,000		JCR Pharmaceuticals Co Ltd		238
	16,630		Jeil Pharmaceutical Co		201
	11,375,680		Johnson & Johnson		783,897
	223,521	e	Kaken Pharmaceutical Co Ltd		3,337
	262,917	*,e	Keryx Biopharmaceuticals, Inc		741
	90,597		Kissei Pharmaceutical Co Ltd		1,615
	56,785	*	Komipharm International Co Ltd		462
	125,100		Kwang Dong Pharmaceutical Co Ltd		486
	122,836		Kyorin Co Ltd		3,027
	497,187		Kyowa Hakko Kogyo Co Ltd		6,004
	71,099	e	Laboratorios Almirall S.A.		554
	25,509	e	Laboratorios Farmaceuticos Rovi S.A		170
	57,640	*,e	Lannett Co, Inc		278
	743,018	*,e	Lexicon Pharmaceuticals, Inc		1,724
	18,990	*	LG Life Sciences Ltd		805
	331,374	*	Life Technologies Corp		16,198
	75,400	*	Ligand Pharmaceuticals, Inc (Class B)		1,293
	1,524,000	e	Lijun International Pharmaceutical Holding Ltd		385
	175,900		Livzon Pharmaceutical, Inc		429
	218,908		Lonza Group AG.		11,458
	172,401	*	Luminex Corp		3,351
	436,225		Lupin Ltd		4,924

122

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	407,166	*,e	MannKind Corp	$	1,173
	98,049	*,e	MAP Pharmaceuticals, Inc		1,527
	110,264		Maxygen, Inc		291
	508,037		Meda AB (A Shares)		5,146
	256,303	*	Medicines Co		6,615
	285,893	e	Medicis Pharmaceutical Corp (Class A)		12,371
	75,000	*	Medigen Biotechnology Corp		264
	8,205	*	Medipost Co Ltd		698
	230,890	*	Medivation, Inc		13,013
	28,097	*	Medivir AB		323
	3,236		Medy-Tox, Inc		227
	10,864,455		Merck & Co, Inc		489,986
	199,717		Merck KGaA		24,654
	1,270	*	Merck Ltd		15
	56,234	*,e	Merrimack Pharmaceuticals, Inc		527
	164,481	*,e	Mesoblast Ltd		1,137
	111,706	*	Mettler-Toledo International, Inc		19,073
	82,516	e	Mochida Pharmaceutical Co Ltd		1,020
	254,889	*,e	Momenta Pharmaceuticals, Inc		3,714
	29,508	*	Morphosys AG.		911
	22,167,242	*,a	MPM Bioventures II		3,796
	1,783,778	*	Mylan Laboratories, Inc		43,524
	128,749	*	Myriad Genetics, Inc		3,475
	106,122	*	Nabi Biopharmaceuticals		188
	410,052	*,e	Nektar Therapeutics		4,379
	278,787	*	Neurocrine Biosciences, Inc		2,225
	58,578	*,e	NewLink Genetics Corp		951
	38,000		Nichi-iko Pharmaceutical Co Ltd		896
	68,000		Nippon Shinyaku Co Ltd		865
	44,982	*,e	Novacea, Inc		239
	2,982,936		Novartis AG.		182,566
	1,554		Novartis India Ltd		20
	392,655	*,e	Novavax, Inc		848
	581,362		Novo Nordisk AS (Class B)		91,491
	313,645	*	NPS Pharmaceuticals, Inc		2,901
	152,402	*	Obagi Medical Products, Inc		1,891
	118,979	*,e	Omeros Corp		1,118
	48,228	*,e	OncoGenex Pharmaceutical, Inc		683
	535	*	OncoTherapy Science, Inc		727
	192,842	*,e	Oncothyreon, Inc		991
	111,295	e	Ono Pharmaceutical Co Ltd		6,848
	369,033	*	Onyx Pharmaceuticals, Inc		31,183
	385,068	*,e	Opko Health, Inc		1,610
	166,613	*,e	Optimer Pharmaceuticals, Inc		2,353
	335,002		Orchid Chemicals & Pharmaceuticals Ltd		710
	390,377	*,e	Orexigen Therapeutics, Inc		2,229
	281,805	e	Orion Oyj (Class B)		6,032
	57,476	*,e	Osiris Therapeutics, Inc		635
	484,054		Otsuka Holdings KK		15,001
	191,627	*,e	Pacific Biosciences of California, Inc		351
	68,645	*,e	Pacira Pharmaceuticals, Inc		1,194
	152,145	e	Pain Therapeutics, Inc		768

123

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	24,300	*	Paladin Labs, Inc	$	1,121
	186,654	*	Par Pharmaceutical Cos, Inc		9,329
	256,404	*	Parexel International Corp		7,887
	718,844	e	PDL BioPharma, Inc		5,528
	1,788,004		PerkinElmer, Inc		52,691
	400,665		Perrigo Co		46,545
	44,587,895		Pfizer, Inc		1,108,008
	259,848	*,e	Pharmacyclics, Inc		16,760
	590,217	*,e	Pharmaxis Ltd		705
	33,190	*	Pharmicell Co Ltd		185
	35,706	*,e,f	Pharmstandard (GDR) (purchased 05/31/11, cost $841)		507
	193,000	*	Phytohealth Corp		370
	114,671		Piramal Healthcare Ltd		1,009
	142,689	*,e	Pozen, Inc		946
	128,906	*	Progenics Pharmaceuticals, Inc		370
	335,735		Pronova BioPharma AS		589
	10,859,000		PT Kalbe Farma Tbk		5,315
	64,000	*	Qiagen N.V.		1,180
	547,753	*,e	Qiagen N.V. (NASDAQ)		10,139
	273,181	*,e	Questcor Pharmaceuticals, Inc		5,054
	186,898		Ranbaxy Laboratories Ltd		1,869
	201,176	*,e	Raptor Pharmaceutical Corp		1,119
	230,162		Recordati S.p.A.		1,638
	226,326	*	Regeneron Pharmaceuticals, Inc		34,551
	112,283	*	Repligen Corp		669
	55,148	*,e	Repros Therapeutics, Inc		840
	16,602		Richter Gedeon Nyrt		2,906
	256,292	*,e	Rigel Pharmaceuticals, Inc		2,627
	80,430	*	RNL BIO Co Ltd		374
	1,271,585		Roche Holding AG.		237,846
	489,000		Rohto Pharmaceutical Co Ltd		7,395
	37,795	*,e	Sagent Pharmaceuticals		603
	161,817	*	Salix Pharmaceuticals Ltd		6,851
	200,371	*,e	Sangamo Biosciences, Inc		1,218
	2,937,102		Sanofi-Aventis		251,347
	371,894	*	Santarus, Inc		3,302
	78,569		Santen Pharmaceutical Co Ltd		3,604
	18,600	e	Sawai Pharmaceutical Co Ltd		2,158
	4,722		Schweizerhall Holding AG.		552
	203,985	*,e	Sciclone Pharmaceuticals, Inc		1,132
	351,532	*,e	Seattle Genetics, Inc		9,474
	6,696	*	Seegene, Inc		459
	153,800		Seikagaku Corp		1,776
	410,601	*,e	Sequenom, Inc		1,449
	318,000		Shandong Luoxin Pharmacy Stock Co Ltd		242
	585,847	e	Shionogi & Co Ltd		8,928
	1,114,944		Shire Ltd		32,889
	58,000		Shire plc (ADR)		5,145
	7,336		Siegfried Holding AG.		897
	133,602	*,e	SIGA Technologies, Inc		428
	3,573,000	e	Sihuan Pharmaceutical Holdings		1,297
	5,080,000	e	Sino Biopharmaceutical		1,866

124

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	4,254,176	*,a	Skyline Venture Fund II Ltd	$	246
	976,029	*	Skyline Venture Fund III Ltd		96
	264,747	*,e	Spectrum Pharmaceuticals, Inc		3,098
	80,894		Stada Arzneimittel AG.		2,357
	5,318		Stallergenes		315
	350,100		Standard Chemical & Pharma		315
	273,260	*,e	Starpharma Holdings Ltd		424
	219,321		Strides Arcolab Ltd		3,660
	52,702	*,e	Sucampo Pharmaceuticals, Inc (Class A)		265
	127,373	*	Sun Pharmaceutical Industries Ltd		193
	757,645		Sun Pharmaceuticals Industries Ltd		9,969
	93,356	*,e	Sunesis Pharmaceuticals, Inc		527
	8,932	*,e	Supernus Pharmaceuticals, Inc		103
	54,392	*	Synageva BioPharma Corp		2,906
	218,307	*,e	Synergy Pharmaceuticals, Inc		1,044
	125,989	*,e	Synta Pharmaceuticals Corp		960
	79,500	e	Taisho Pharmaceutical Holdings Co Ltd		6,466
	46,400	e	Takara Bio, Inc		274
	1,148,975	e	Takeda Pharmaceutical Co Ltd		52,862
	659,800		Tanabe Seiyaku Co Ltd		10,013
	134,741	*,e	Targacept, Inc		659
	14,937		Tecan Group AG.		1,085
	96,523		Techne Corp		6,944
	10,100	*	TESARO, Inc		144
	514,640		Teva Pharmaceutical Industries Ltd		21,244
	4,830,297		Teva Pharmaceutical Industries Ltd (ADR)		200,023
	224,679	*,e	Theravance, Inc		5,821
	1,186,609		Thermo Electron Corp		69,807
	307,259	*,e	Threshold Pharmaceuticals, Inc		2,225
	37,897	*	ThromboGenics NV		1,521
	472,000	e	Tong Ren Tang Technologies Co Ltd		881
	25,700		Torii Pharmaceutical Co Ltd		560
	3,100		Torrent Pharmaceuticals Ltd		41
	9,900	e	Towa Pharmaceutical Co Ltd		661
	22,411	*,e	Transgene S.A.		257
	141,674	*,e,m	Trius Therapeutics, Inc		826
	172,233	e	Tsumura & Co		5,389
	180,139		TTY Biopharm Co Ltd		731
	674,116		UCB S.A.		37,096
	6,460		Unichem Laboratories Ltd		24
	1,325,500	e	United Laboratories Ltd		634
	75,470	*	United Therapeutics Corp		4,217
	463,879	*,e	Vanda Pharmaceuticals, Inc		1,869
	445,681	*,e	Vectura Group plc		623
	80,700	*,e	Ventrus Biosciences, Inc		289
	14,648	*,e	Verastem, Inc		138
	1,439,335	*,e	Vertex Pharmaceuticals, Inc		80,531
	290,191	*,e	Vical, Inc		1,254
	7,317		Virbac S.A.		1,266
	12,806	*	ViroMed Co Ltd		366
	979,169	*	Viropharma, Inc		29,590
	368,679	*,e	Vivus, Inc		6,570

125

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	2,406,235		Warner Chilcott plc	$	32,484
	273,873	*,e	Waters Corp		22,822
	1,093,175	*	Watson Pharmaceuticals, Inc		93,095
	528,000		Winteam Pharmaceutical Group Ltd		101
	53,870	*	Wockhardt Ltd		1,317
	162,578	*,e	Xenoport, Inc		1,863
	436,658	*,e	XOMA Corp		1,611
	11,159		Yuhan Corp		1,535
	214,410	*	Yungjin Pharmaceutical Co Ltd		356
	170,000		YungShin Global Holding Corp		247
	215,313	*,e	Zeltia S.A.		403
	32,000		Zeria Pharmaceutical Co Ltd		583
	232,351	*,e	ZIOPHARM Oncology, Inc		1,266
	134,991	*,e	Zogenix, Inc		359
			TOTAL PHARMACEUTICALS, BIOTECHNOLOGY & LIFE SCIENCES		7,965,150
REAL ESTATE - 3.5%
	356,341	e	Abacus Property Group		717
	161,556		Acadia Realty Trust		4,010
	212,366		Acucap Properties Ltd		1,189
	5,951	*	Advance Residence Investment Corp		12,523
	79,355		Aeon Mall Co Ltd		1,938
	104,295	*	Africa Israel Investments Ltd		187
	14,138	*	Africa Israel Properties Ltd		99
	126,367		AG Mortgage Investment Trust		3,049
	4,080,000	e	Agile Property Holdings Ltd		4,560
	66,662		Agree Realty Corp		1,699
	669,104		AIMS AMP Capital Industrial REIT		768
	59,965	*	Airport City Ltd		272
	57,500		Airport Facilities Co Ltd		263
	39,438		Akmerkez Gayrimenkul Yatirim Ortakligi AS		409
	200,823	*	Alexander & Baldwin, Inc		5,930
	7,467		Alexander’s, Inc		3,192
	149,607		Alexandria Real Estate Equities, Inc		10,999
	366,484		Aliansce Shopping Centers S.A.		3,974
	1,804,680	e	Allan Gray Property Trust		1,754
	13,968,693	e	Allco Commercial Real Estate Investment Trust		13,344
	35,217		Allied Properties Real Estate Investment Trust		1,145
	24,971		Allreal Holding AG.		3,664
	160,186		Alony Hetz Properties & Investments Ltd		751
	5,797	*	AL-ROV Israel Ltd		115
	6,102		Alrov Properties and Lodgings Ltd		95
	355,487		Alstria Office REIT-AG.		4,162
	3,626,200		Amata Corp PCL (Foreign)		1,964
	1,285,107		AMB Property Corp		45,017
	3,762,676	*	Amer Group Holding		483
	144,154		American Assets Trust, Inc		3,862
	286,196		American Campus Communities, Inc		12,558
	1,678,837		American Capital Agency Corp		58,071
	142,468		American Capital Mortgage, Inc		3,580
	651,604	*	American Realty Capital Trust, Inc		7,643
	2,395,104		American Tower Corp		170,987

126

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	116,591		Amot Investments Ltd	$	260
	1,245,792		AMP NZ Office Trust		1,011
	12,900	*	AmREIT, Inc (Class B)		191
	295,159		Anant Raj Industries Ltd		400
	14,511		ANF Immobilier		597
	3,413,914		Annaly Capital Management, Inc		57,490
	492,407		Anworth Mortgage Asset Corp		3,348
	229,021		Apartment Investment & Management Co (Class A)		5,952
	123,352		Apollo Commercial Real Estate Finance, Inc		2,139
	28,268		Ares Commercial Real Estate Corp		482
	1,055,460	*	ARMOUR Residential REIT, Inc		8,085
	160,351		Artis Real Estate Investment Trust		2,672
	719,000		Ascendas India Trust		447
	3,407,619	e	Ascendas Real Estate Investment Trust		6,675
	1,676,586	e	Ascott Residence Trust		1,712
	185,852		Ashford Hospitality Trust, Inc		1,561
	4,030,100		Asian Property Development PCL (Foreign)		1,183
	782,112	e	Aspen Group		138
	245,626		Associated Estates Realty Corp		3,724
	425,652		Atrium European Real Estate Ltd		2,223
	750,488		Australand Property Group		2,283
	60,054	*,e	AV Homes, Inc		891
	465,219		AvalonBay Communities, Inc		63,265
	9,767,623		Ayala Land, Inc		5,581
	74,082		Babcock & Brown Japan Property Trust		220
	9,897,400	*	Bangkokland PCL		402
	1,561		Bayside Land Corp		295
	23,759		Befimmo SCA Sicafi		1,402
	2,582,000	e	Beijing Capital Land Ltd		737
	1,194,000	e	Beijing North Star Co		211
	4,690,950	*	Belle Corp		559
	1,301,413		Beni Stabili S.p.A.		686
	216,875		Big Yellow Group plc		1,101
	190,588		BioMed Realty Trust, Inc		3,568
	752	*	BLife Investment Corp		5,691
	79,731		Boardwalk Real Estate Investment Trust		5,271
	764,153		Boston Properties, Inc		84,523
	998,256		BR Malls Participacoes S.A.		13,862
	754,511		BR Properties S.A.		9,844
	174,338		Brandywine Realty Trust		2,125
	376,000		Brasil Brokers Participacoes S.A.		1,324
	102,114		BRE Properties, Inc (Class A)		4,788
	752,260		British Land Co plc		6,354
	609,478		Brookfield Asset Management, Inc		21,041
	8,985	*	Brookfield Multiplex Group		703
	45,000		Brookfield Office Properties, Inc		745
	784,356	e	Brookfield Office Properties, Inc (Toronto)		13,037
	492,659		Bunnings Warehouse Property Trust		1,016
	12,444,188	e	C C Land Holdings Ltd		2,642
	111,543		CA Immobilien Anlagen AG.		1,228
	1,486,000		Cache Logistics Trust		1,511
	104,075		Calloway Real Estate Investment Trust		3,162

127

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	1,216,188	e	Cambridge Industrial Trust	$	634
	147,935		Camden Property Trust		9,540
	151,375		Campus Crest Communities, Inc		1,635
	95,791		Canadian Apartment Properties REIT		2,423
	85,156		Canadian Real Estate Investment Trust		3,640
	5,023,974	e	CapitaCommercial Trust		6,104
	1,012,482		Capital & Counties Properties		3,566
	242,891		Capital Lease Funding, Inc		1,256
	2,635,334		Capital Property Fund		3,353
	1,696,404		CapitaLand Ltd		4,370
	548,197		CapitaMall Trust		899
	1,700,480		CapitaMalls Asia Ltd		2,276
	432,100		CapitaMalls Malaysia Trust		250
	880,000		CapitaRetail China Trust		1,049
	335,931		Capstead Mortgage Corp		4,532
	352,813		Castellum AB		4,779
	3,447,000		Cathay Real Estate Development Co Ltd		1,653
	283,565		CBL & Associates Properties, Inc		6,051
	969,618	*,e	CBRE Group, Inc		17,851
	1,686,000		CDL Hospitality Trusts		2,787
	222,161		Cedar Shopping Centers, Inc		1,173
	1,367,000		Central China Real Estate Ltd		334
	98,000		Central Pattana PCL (Foreign)		190
	2,575	*,m	Centro Properties Group		0	^
	960,285		Centro Retail Australia (REIT)		2,082
	1,669,436		CFS Gandel Retail Trust		3,331
	953,000		CH Karnchang PCL		263
	273,972		Challenger Diversified Property Group		648
	3,922,636	e	Champion Real Estate Investment Trust		1,787
	308,539		Charter Hall Group		917
	164,700		Chartwell Seniors Housing Real Estate Investment Trust		1,707
	49,687		Chatham Lodging Trust		690
	180,120		Chesapeake Lodging Trust		3,579
	5,795,201		Cheuk Nang Holdings Ltd		2,862
	1,560,607		Cheung Kong Holdings Ltd		22,798
	6,140,115		Chimera Investment Corp		16,640
	2,003,000		China Aoyuan Property Group Ltd		255
	2,092,000		China Chengtong Development Group Ltd		77
	11,660,470	*	China New Town Development Co Ltd		473
	8,531,800	e	China Overseas Land & Investment Ltd		21,502
	652,000	*	China Properties Group Ltd		194
	3,288,000	e	China Resources Land Ltd		7,188
	2,311,000		China SCE Property Holdings Ltd		501
	6,556,000	e	China South City Holdings Ltd		928
	2,177,420		China Vanke Co Ltd		2,729
	335,500		Chinese Estates Holdings Ltd		475
	207,080		Chong Hong Construction Co		511
	182,619		City Developments Ltd		1,738
	240,670	e	Citycon Oyj		723
	21,485		Cofinimmo		2,386
	26,001	*	Colonia Real Estate AG.		127
	346,236		Colonial Properties Trust		7,288

128

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	217,400		Colony Financial, Inc	$	4,235
	64,398		Cominar Real Estate Investment Trust		1,580
	6,244,388		Commonwealth Property Office Fund		6,690
	19,520	e	Consolidated-Tomoka Land Co		642
	91,624	e	Conwert Immobilien Invest AG.		1,025
	133,401		Coresite Realty		3,594
	19,185		Corio NV		816
	148,933		Corporate Office Properties Trust		3,570
	14,139,082		Country Garden Holdings Co Ltd		5,482
	346,116		Cousins Properties, Inc		2,748
	2,152		Crescendo Investment Corp		1,452
	285,901		CreXus Investment Corp		3,091
	24,000		Crombie Real Estate Investment Trust		371
	12,860,642		CSI Properties Ltd		540
	679,862		CubeSmart		8,750
	663,221		CYS Investments, Inc		9,345
	1,651	e	DA Office Investment Corp		5,474
	75,100		Daibiru Corp		620
	689,000		Daikyo, Inc		1,733
	2,045,900		Daiman Development BHD		1,252
	173,565	e	Daito Trust Construction Co Ltd		17,423
	923,879		Daiwa House Industry Co Ltd		13,387
	3,206,744		DB RREEF Trust		3,153
	1,016,358		DCT Industrial Trust, Inc		6,576
	1,451,517		DDR Corp		22,295
	409,483		Delta Corp Ltd		546
	158,078		Derwent London plc		5,000
	124,307		Deutsche Euroshop AG.		4,639
	181,667		Deutsche Wohnen AG.		3,194
	214,130		Development Securities plc		582
	1,056,449		DiamondRock Hospitality Co		10,174
	72,060		DIC Asset AG.		681
	492,862		Digital Realty Trust, Inc		34,426
	10,195,341		DLF Ltd		44,928
	178,108		Douglas Emmett, Inc		4,109
	70,776		Douja Promotion Groupe Addoha S.A.		524
	571,437		Duke Realty Corp		8,400
	24,500		Dundee International Real Estate Investment Trust		274
	56,394		Dundee Real Estate Investment Trust		2,160
	223,178		DuPont Fabros Technology, Inc		5,635
	197,354		Dynex Capital, Inc		2,122
	1,169,800		Eastern & Oriental BHD		630
	148,819		EastGroup Properties, Inc		7,917
	428,551		Education Realty Trust, Inc		4,671
	751,724		Emira Property Fund		1,210
	2,823,252		Emlak Konut Gayrimenkul Yatiri		3,948
	2,590,666		Emperor International Holdings		642
	192,211		Entertainment Properties Trust		8,540
	166,429		Equity Lifestyle Properties, Inc		11,337
	199,766		Equity One, Inc		4,207
	1,143,254		Equity Residential		65,771

129

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	58,255		Essex Property Trust, Inc	$	8,636
	24,341		Eurobank Properties Real Estate Investment Co		150
	59,453		Eurocommercial Properties NV		2,252
	7,922,000	e	Evergrande Real Estate Group		3,103
	122,807		Excel Trust, Inc		1,402
	651,804		Extra Space Storage, Inc		21,672
	198,645		Fabege AB		1,893
	5,380,500		Fantasia Holdings Group Co Ltd		518
	382,700		Farglory Land Development Co Ltd		715
	91,274	*	Fastighets AB Balder		502
	335,644		Federal Realty Investment Trust		35,343
	467,412	*	FelCor Lodging Trust, Inc		2,216
	610,500	e	Fibra Uno Administracion S.A. de C.V.		1,381
	17,839,000		Filinvest Land, Inc		581
	111,980		First Capital Realty, Inc		2,140
	490,440	*	First Industrial Realty Trust, Inc		6,444
	186,206		First Potomac Realty Trust		2,398
	585,000		First Real Estate Investment Trust		500
	45,010	*,e	FirstService Corp		1,280
	1,748,426	e	FKP Property Group		450
	4,925		Fonciere Des Regions		370
	1,031,168	*	Forest City Enterprises, Inc (Class A)		16,344
	141,627	*	Forestar Real Estate Group, Inc		2,360
	261,358		Franklin Street Properties Corp		2,893
	6,077,200	e	Franshion Properties China Ltd		1,848
	1,128,000	e	Frasers Centrepoint Trust		1,660
	459	*	Frontier Real Estate Investment Corp		4,019
	232	*	Fukuoka REIT Corp		1,690
	137,120	*,e	GAGFAH S.A.		1,399
	194,007		Gazit Globe Ltd		2,121
	14,926		Gazit, Inc		311
	4,376		Gecina S.A.		448
	1,977,889		General Growth Properties, Inc		38,529
	69,900	*	General Shopping Brasil S.A.		365
	93,784		Getty Realty Corp		1,683
	40,725		Gladstone Commercial Corp		744
	759,142		Glimcher Realty Trust		8,024
	1,412,929		Global Logistic Properties		2,880
	267		Global One Real Estate Investment Corp		1,621
	4,153,000	*	Global-Estate Resorts, Inc		185
	136,993	*	Globe Trade Centre S.A.		319
	4,030,000	*,e	Glorious Property Holdings Ltd		611
	500,024	f	Gold Wheaton Gold Corp (GDR) (purchased 05/04/12, cost $2,498)		2,331
	34,280	e	Goldcrest Co Ltd		529
	1,082,780	e	Goodman Property Trust		915
	220,358		Government Properties Income Trust		5,156
	907,654		GPT Group (ASE)		3,191
	975,275		Grainger plc		1,699
	166,957	*	Gramercy Capital Corp		503
	656,627	e	Great Eagle Holdings Ltd		1,994
	930,294		Great Portland Estates plc		6,783

130

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	210,400	*	Greattown Holdings Ltd	$	73
	1,235,000	e	Greentown China Holdings Ltd		1,333
	2,995,069		Growthpoint Properties Ltd		8,970
	96,305		GSW Immobilien AG.		3,576
	19,902,400	e	Guangzhou Investment Co Ltd		5,028
	4,091,536	e	Guangzhou R&F Properties Co Ltd		4,683
	4,440	*	Gyrodyne Co of America, Inc		482
	1,198,000	e	GZI Real Estate Investment Trust		585
	139,114		H&R Real Estate Investment Trust		3,565
	42,939		Hamborner AG.		382
	2,357,962		Hammerson plc		17,211
	319,622		Hang Lung Group Ltd		2,018
	3,707,071		Hang Lung Properties Ltd		12,622
	165		Hankyu Reit, Inc		815
	1,515,513		Hansteen Holdings plc		1,919
	221,017		Hatteras Financial Corp		6,230
	1,141,242		HCP, Inc		50,762
	816,172		Health Care REIT, Inc		47,134
	348,515		Healthcare Realty Trust, Inc		8,033
	97,800		Heiwa Real Estate Co Ltd		1,125
	153,768		Helical Bar plc		466
	14,816		Heliopolis Housing		55
	4,403,800		Hemaraj Land and Development PCL		451
	1,264,150		Henderson Land Development Co Ltd		9,053
	856,188		Hersha Hospitality Trust		4,195
	489,000		Highwealth Construction Corp		819
	268,622		Highwoods Properties, Inc		8,762
	1,044,000		HKR International Ltd		454
	376,000	e	Ho Bee Investment Ltd		467
	76,569		Home Properties, Inc		4,691
	290,000		Hongkong Land Holdings Ltd		1,738
	1,246,000	*,e	Hopson Development Holdings Ltd		927
	252,245		Hospitality Properties Trust		5,998
	2,009,131		Host Marriott Corp		32,247
	656,570	*	Housing Development & Infrastruture Ltd		1,206
	63,167	*	Howard Hughes Corp		4,488
	102,385		HRPT Properties Trust		1,491
	358,235		Huaku Development Co Ltd		862
	154,000		Huang Hsiang Construction Co		408
	129,863		Hudson Pacific Properties		2,402
	270,212		Hufvudstaden AB (Series A)		3,354
	1,002,362		Hung Poo Real Estate Development Corp		1,009
	952,000		Hung Sheng Construction Co Ltd		550
	150,879		Hyprop Investments Ltd		1,298
	612,090		Hysan Development Co Ltd		2,779
	17,000	e	Icade		1,385
	2,440	*	Ichigo Real Estate Investment Corp		1,278
	1,237,490		IGB Corp BHD		937
	58,300		Iguatemi Empresa de Shopping Centers S.A.		1,490
	20,000	e	Iida Home Max		186
	1,452,000		IJM Land BHD		1,009
	387,855		Immobiliare Grande Distribuzione		346

131

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	438,505	e	IMMOFINANZ Immobilien Anlagen AG.	$	1,593
	700,444		Indiabulls Real Estate Ltd		764
	330	e	Industrial & Infrastructure Fund Investment Corp		2,506
	122,941		Industrial Buildings Corp		145
	1,622,002	e	ING Office Fund		4,847
	283,997		Inland Real Estate Corp		2,343
	130,983		InnVest Real Estate Investment Trust		697
	1,940		Intershop Holdings		671
	9,356		Intervest Offices		211
	451,732		Invesco Mortgage Capital, Inc		9,093
	431,202		Investors Real Estate Trust		3,566
	1,100,963		Is Gayrimenkul Yatirim Ortakligi AS		822
	289,573	*	iStar Financial, Inc		2,398
	181,317	*,e	IVG Immobilien AG.		415
	815		Japan Excellent, Inc		4,494
	3,547	*	Japan Hotel REIT Investment Corp		998
	265	*	Japan Logistics Fund Inc		2,453
	2,354		Japan Prime Realty Investment Corp		7,097
	347	*	Japan Real Estate Investment Corp		3,492
	1,792		Japan Rental Housing Investments, Inc		988
	4,199	*,e	Japan Retail Fund Investment Corp		7,497
	63,666		Jerusalem Economy Ltd		290
	13,650	*	Jerusalem Oil Exploration		213
	352,500		JHSF Participacoes S.A.		1,321
	1,727,996		Jiangsu Future Land Co Ltd		1,044
	1,171	e	Joint Reit Investment Corp		5,301
	276,759		Jones Lang LaSalle, Inc		21,131
	3,018,629		K Wah International Holdings Ltd		1,434
	3,020,000	*,e	Kaisa Group Holdings Ltd		547
	228,480		KEE TAI Properties Co Ltd		138
	3,798		Kenedix Realty Investment Corp		13,657
	20,938	*	Kenedix, Inc		2,430
	146,743	e	Kennedy-Wilson Holdings, Inc		2,050
	2,904,546	e	Keppel Land Ltd		8,358
	2,264,640	e	Kerry Properties Ltd		11,420
	58,900	e	Killam Properties, Inc		782
	90,841		Kilroy Realty Corp		4,068
	1,341,629		Kimco Realty Corp		27,195
	109,000		Kindom Construction Co		77
	476,280		King’s Town Construction Co Ltd		504
	195,286		Kite Realty Group Trust		996
	1,170,979	e	Kiwi Income Property Trust		1,077
	2,183,278		KLCC Property Holdings BHD		4,157
	40,824		Klepierre		1,430
	223,988		Klovern AB		882
	4,116	*	Klovern AB (Pref)		88
	110,636	*	Korea Real Estate Investment Trust Co		114
	3,125,130	e	Kowloon Development Co Ltd		3,584
	981,799	e	K-REIT Asia		947
	203,954		Kungsleden AB		1,155
	470,000		Kuoyang Construction Co Ltd		246
	6,536,000	e	KWG Property Holding Ltd		3,601

132

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	74,846,000		Lai Fung Holdings Ltd	$	1,474
	11,088,250	*	Lai Sun Development		255
	272,719		Land Securities Group plc		3,361
	424,707		LaSalle Hotel Properties		11,335
	39,110	*	LC Corp S.A.		15
	1,727		Leasinvest Real Estate SCA		146
	1,108,134	e	Lend Lease Corp Ltd		8,976
	186,011	*,e	Leopalace21 Corp		559
	438,488		Lexington Corporate Properties Trust		4,236
	141,208	e	Liberty International plc		748
	126,469		Liberty Property Trust		4,583
	2,797,410		Link Real Estate Investment Trust		13,249
	2,015,000	e	Lippo-Mapletree Indonesia Retail Trust		746
	650,727		London & Stamford Property plc		1,209
	391,000		Long Bon International Co Ltd		258
	2,162,000	e	Longfor Properties Co Ltd		3,327
	1,782,000		LPN Development PCL		1,088
	2,045,100		LPN Development PCL (ADR)		1,249
	63,700		LPS Brasil Consultoria de Imoveis S.A.		1,147
	199,335		LTC Properties, Inc		6,349
	338,686		Macerich Co		19,383
	519,811		Mack-Cali Realty Corp		13,827
	369,288		Macquarie CountryWide Trust		1,310
	1,019,903		Macquarie Goodman Group		4,169
	2,260,590	e	Macquarie MEAG Prime REIT		1,409
	1,134,300		Mah Sing Group BHD		781
	35,779	*,e,m	Mapeley Ltd		117
	1,359,000	e	Mapletree Commercial Trust		1,295
	2,841,016		Mapletree Industrial Trust		3,260
	1,846,523	e	Mapletree Logistics Trust		1,689
	505,449		Medical Properties Trust, Inc		5,282
	14,884	*	Medinet Nasr Housing		58
	60,432,800		Megaworld Corp		3,217
	19,346		Melisron Ltd		322
	42,916	e	Mercialys S.A		885
	338,350		Metric Property Investments plc		508
	803,688		MFA Mortgage Investments, Inc		6,831
	914		MID Reit, Inc		2,391
	111,150		Mid-America Apartment Communities, Inc		7,259
	1,792,929		Midland Holdings Ltd		1,062
	2,744,000		Minmetals Land Ltd		330
	4,578,225		Mirvac Group		6,771
	301,248		Mission West Properties, Inc		2,621
	1,150,837		Mitsubishi Estate Co Ltd		22,004
	1,404,322		Mitsui Fudosan Co Ltd		28,062
	13,915		Mobimo Holding AG.		3,191
	215,378		Monmouth Real Estate Investment Corp (Class A)		2,410
	38,521		Morguard Real Estate Investment Trust		701
	1,004	e	Mori Hills REIT Investment Corp		4,890
	256		Mori Trust Sogo Reit, Inc		2,294
	182,216		Multiplan Empreendimentos Imobiliarios S.A.		5,365
	383,600		Naim Holdings BHD		223

133

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	104,957		National Health Investors, Inc	$	5,399
	347,172		National Retail Properties, Inc		10,589
	1,718,000	*,e	Neo-China Land Group Holdings Ltd		260
	4,856,666	e	New World China Land Ltd		1,870
	9,727,080		New World Development Ltd		14,989
	96,665		New York Mortgage Trust, Inc		681
	89,607	e	Nieuwe Steen Investments NV		734
	248		Nippon Accommodations Fund, Inc		1,706
	400		Nippon Building Fund, Inc		4,312
	38,234	*	Nitsba Holdings 1995 Ltd		303
	72,029		Nomura Real Estate Holdings, Inc		1,263
	256		Nomura Real Estate Office Fund, Inc		1,604
	347	*	Nomura Real Estate Residential Fund, Inc		2,007
	18,469		Northern Property Real Estate Investment Trust		590
	633,766		NorthStar Realty Finance Corp		4,031
	28,100		NorthWest Healthcare Properties Real Estate Investment Trust		374
	609,888		Norwegian Property ASA		937
	175,491		NRDC Acquisition Corp		2,259
	3,693		NTT Urban Development Corp		2,997
	480,052		Omega Healthcare Investors, Inc		10,912
	60,555		One Liberty Properties, Inc		1,129
	411	*	Orix JREIT, Inc		2,008
	825,654	*	Palm Hills Developments SAE		406
	140,920		Paramount Corp BHD		69
	514,000		Parkway Life Real Estate Investment Trust		831
	76,840		Parkway Properties, Inc		1,027
	1,250,624		Parque Arauco S.A		2,579
	358,802	*	Parsvnath Developers Ltd		273
	41,793	*	Patrizia Immobilien AG.		239
	346,500		Pavilion Real Estate Investment Trust		159
	369,637		PAZ Corp S.A.		205
	262,111		Pebblebrook Hotel Trust		6,131
	212,198		Pennsylvania Real Estate Investment Trust		3,365
	289,465		Pennymac Mortgage Investment Trust		6,765
	1,114,000	e	Perennial China Retail Trust		448
	730,567		Phoenix Mills Ltd		2,732
	209,834		Piedmont Office Realty Trust, Inc		3,639
	815,080	*,e	Pirelli & C Real Estate S.p.A.		102
	356,252		Plum Creek Timber Co, Inc		15,618
	3,037,000	e	Poly Hong Kong Investment Ltd		1,617
	7,091,160		Polytec Asset Holdings Ltd		692
	82,346		Post Properties, Inc		3,949
	328,340		Potlatch Corp		12,270
	2,896,000		Powerlong Real Estate Holdings Ltd		465
	1,504	*	Premier Investment Co		5,761
	1,281,880		Prestige Estates Projects Ltd		3,295
	2,223,900		Preuksa Real Estate PCL (Foreign)		1,298
	109,616		Primaris Retail Real Estate Investment Trust		2,718
	136,780		Primary Health Properties plc		756
	90,742		Prime Office REIT-AG.		396
	1,127,060		Prince Housing & Development Corp		834

134

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	1,679		Property & Building Corp	$	62
	2,462,000		Prosperity REIT		687
	580,800		Pruksa Real Estate PCL (ADR)		339
	116,254		PS Business Parks, Inc		7,768
	91,118		PSP Swiss Property AG.		8,278
	8,067,500		PT Agung Podomoro Land Tbk		294
	21,358,000		PT Alam Sutera Realty Tbk		1,100
	11,515,000		PT Ciputra Development Tbk		851
	4,321,000		PT Ciputra Property Tbk		284
	9,451,500		PT Intiland Development Tbk		325
	71,337,500	*	PT Kawasan Industri Jababeka Tbk		1,595
	61,563,713		PT Lippo Karawaci Tbk		6,349
	4,876,500		PT Modernland Realty Tbk		284
	16,872,000	*	PT Pakuwon Jati Tbk		474
	37,811,500	*	PT Sentul City Tbk		825
	10,087,500		PT Summarecon Agung Tbk		1,769
	649,428		Public Storage, Inc		90,381
	2,003,815	f	Puravankara Projects Ltd (purchased 01/21/08, cost $7,383)		2,638
	21,150,725		Quality House PCL		1,351
	758,306	*	Quintain Estates & Development plc		648
	767,898		Radium Life Tech Co Ltd		531
	167,579		RAIT Investment Trust		880
	175,144		Ramco-Gershenson Properties		2,195
	982,307	e	Raven Russia Ltd		1,071
	588,369		Rayonier, Inc		28,836
	91,859	*	Realia Business S.A.		84
	162,040		Realty Income Corp		6,626
	3,151,365		Redefine Income Fund Ltd		3,540
	287,844		Redwood Trust, Inc		4,162
	28,924,000		Regal Real Estate Investment Trust		7,422
	220,200		Regency Centers Corp		10,730
	13,100		Relo Holdings, Inc		461
	8,197,500	e	Renhe Commercial Holdings Co Ltd		330
	381,099		Resilient Property Income Fund Ltd		2,198
	330,623		Resource Capital Corp		1,944
	189,479		Retail Properties of America, Inc		2,145
	1,784,000		Richfield Group Holdings Ltd		93
	487,995		RioCan Real Estate Investment Trust		13,735
	461,059		RLJ Lodging Trust		8,719
	4,672,200		Robinsons Land Corp		2,131
	83,024		Rouse Properties, Inc		1,191
	722,973		Ruentex Development Co Ltd		1,363
	2,611,288		S.A. Corporate Real Estate Fund		1,124
	1,533,000	e	Sabana Shari’ah Compliant Industrial REIT		1,428
	242,905		Sabra Healthcare REIT, Inc		4,861
	265,259		Saf Gayrimenkul Yatirim Ortakligi AS.		140
	22,209,232		Sansiri PCL		2,059
	47,751		Saul Centers, Inc		2,120
	262,519		Savills plc		1,690
	166,970	e	SC Global Developments Ltd		160
	314,313		Segro plc		1,155

135

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	67,258		Select Income REIT	$	1,656
	205,521		Senior Housing Properties Trust		4,476
	400,099		Shaftesbury plc		3,418
	542,840		Shanghai Jinqiao Export Processing Zone Development Co Ltd		362
	72,000		Shanghai Lujiazui Finance & Trade Zone Development Co Ltd		72
	24,843,429	e	Shanghai Real Estate Ltd		847
	510,000		Shell Electric MFG		503
	7,328,000	e	Shenzhen Investment Ltd		1,694
	3,756,000	e	Shimao Property Holdings Ltd		6,419
	832,140	*	Shining Building Business Co Ltd		667
	353,500		Shoei Co Ltd		2,148
	4,140,682	e	Shui On Land Ltd		1,557
	1,876,960		Simon Property Group, Inc		284,942
	14,000	e	Singapore Land Ltd		81
	4,755,984		Sino Land Co		8,857
	2,132,000	*	Sinolink Worldwide Holdings Ltd		167
	8,451,574	e	Sino-Ocean Land Holdings Ltd		4,756
	2,349,464		Sinpas Gayrimenkul Yatirim Ortakligi AS		1,677
	571,128		Sinyi Realty Co		777
	66,083		Six of October Development & Investment		254
	542,968		SL Green Realty Corp		43,475
	1,310,908		SM Development Corp		191
	12,491,615		SM Prime Holdings		4,245
	233,416		Sobha Developers Ltd		1,623
	12,873		Societe de la Tour Eiffel		673
	15,196		Societe Immobiliere de Location pour l’Industrie et le Commerce		1,573
	4,099,500	e	Soho China Ltd		2,523
	44,600		Sonae Sierra Brasil S.A.		711
	340,726	*,e	Songbird Estates plc		615
	98,000		Soundwill Holdings Ltd		173
	167,223		Sovran Self Storage, Inc		9,674
	186,700		SP Setia BHD		222
	104,260		Sparkassen Immobilien AG.		639
	3,004,929	*	SPG Land Holdings Ltd		615
	513,073		Sponda Oyj		2,104
	324,844		ST Modwen Properties plc		1,045
	83,425	*,e	St. Joe Co		1,627
	105,250		STAG Industrial, Inc		1,711
	753,862		Starwood Property Trust, Inc		17,542
	4,074,291		Stockland Trust Group		14,055
	1,214,490	*	Strategic Hotels & Resorts, Inc		7,299
	23,870		Sumitomo Real Estate Sales Co Ltd		1,196
	1,519,222	e	Sumitomo Realty & Development Co Ltd		40,257
	109,235		Summit Hotel Properties, Inc		933
	125,603		Sun Communities, Inc		5,542
	3,585,587		Sun Hung Kai Properties Ltd		52,171
	2,913,000	e	Sunac China Holdings Ltd		1,423
	2,844,190		Sunlight Real Estate Investment Trust		1,131
	983,578	*	Sunstone Hotel Investors, Inc		10,819

136

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	2,913,000		Suntec Real Estate Investment Trust	$	3,516
	1,703,585		Sunteck Realty Ltd		10,269
	1,014,794	*	Sunway BHD		762
	1,339,500		Sunway Real Estate Investment		635
	2,091,000		Supalai PCL		1,354
	1,021,693		Swire Pacific Ltd (Class A)		12,474
	332,501		Swire Properties Ltd		1,026
	119,762		Swiss Prime Site AG.		9,904
	144,139	e	Sycom Property Fund		468
	1,256,600		TA Global BHD		105
	237,864	e	TAG Tegernsee Immobilien und Beteiligungs AG.		2,532
	391,741	*	Taiwan Land Development Corp		162
	1,067,535	*	Talaat Moustafa Group		962
	371,956		Tanger Factory Outlet Centers, Inc		12,025
	657,042		Taubman Centers, Inc		50,415
	150,714		Technopolis plc		651
	50,365	*,e	Tejon Ranch Co		1,513
	45,686		Terreno Realty Corp		722
	864,100	e	Thomas Properties Group, Inc		5,029
	1,316,800		Ticon Industrial Connection PCL		551
	154,700		TOC Co Ltd		826
	28,400		Toho Real Estate Co Ltd		158
	4,371,982	*	Tokyo Tatemono Co Ltd		17,060
	1,493,329		Tokyu Land Corp		7,980
	28,000		Tokyu Livable, Inc		370
	317	*	Tokyu REIT, Inc		1,631
	240		Top REIT Inc		1,196
	8,873	e	Tosei Corp		3,117
	1,253,355		Two Harbors Investment Corp		14,727
	939,106		UDR, Inc		23,309
	1,385,530	*	UEM Land Holdings BHD		759
	48,691		UMH Properties, Inc		583
	36,242	e	Unibail		7,222
	316,378		Unite Group plc		1,350
	7,038,878	*	Unitech Corporate Parks plc		3,794
	48,143,686		Unitech Ltd		22,095
	1,185,027		United Overseas Land Ltd		5,516
	8,299		United Urban Investment Corp		9,624
	57,293		Universal Health Realty Income Trust		2,634
	1,105,100		UOA Development BHD		574
	83,316		Urstadt Biddle Properties, Inc (Class A)		1,685
	48,886	*	Vakif Gayrimenkul Yatirim Ortakligi AS		99
	53,710		Vastned Retail NV		2,279
	1,422,649		Ventas, Inc		88,560
	7,557,000		Vista Land & Lifescapes, Inc		864
	541,088		Vornado Realty Trust		43,855
	587,734		Vukile Property Fund Ltd		1,281
	136,266		Wallenstam Byggnads AB (B Shares)		1,488
	21,911		Warehouses De Pauw SCA		1,146
	242,570		Washington Real Estate Investment Trust		6,506
	280,318		Weingarten Realty Investors		7,880
	2,332		Wereldhave Belgium NV		220

137

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	29,839		Wereldhave NV	$	1,659
	59,415		Western Asset Mortgage Capital Corp		1,319
	5,517,547		Westfield Group		57,981
	6,443,267		Westfield Retail Trust		19,239
	2,023,339		Weyerhaeuser Co		52,890
	4,246,413		Wharf Holdings Ltd		29,363
	2,059,763		Wheelock & Co Ltd		8,849
	404,097		Wheelock Properties S Ltd		612
	43,495		Whitestone REIT		574
	132,814		Wihlborgs Fastigheter AB		1,984
	634,631		Wing Tai Holdings Ltd		881
	105,717		Winthrop Realty Trust		1,140
	269,690		Workspace Group plc		1,171
	2,257,000	e	Yanlord Land Group Ltd		2,182
	1,197,000	*	Ying Li International Real Estate Ltd		325
	13,059		YNH Property BHD		8
	1,133,600	*	YTL Land & Development BHD		366
	737,600		Yuzhou Properties Co		177
	4,410,800	*	Zhong An Real Estate Ltd		451
	18,154	*,e	Zillow, Inc		766
	56,590	*	Zueblin Immobilien Holding AG.		177
			TOTAL REAL ESTATE		3,687,921
RETAILING - 4.0%
	183,834	*	1-800-FLOWERS.COM, Inc (Class A)		686
	187,497		Aaron’s, Inc		5,214
	10,001	e	ABC-Mart, Inc		441
	275,156		Abercrombie & Fitch Co (Class A)		9,333
	479,537		Advance Auto Parts, Inc		32,820
	410,670	*	Aeropostale, Inc		5,556
	55,200		Alpen Co Ltd		1,038
	1,567,837	*	Amazon.com, Inc		398,732
	3,496,442	e	American Eagle Outfitters, Inc		73,706
	30,474	*,e	America’s Car-Mart, Inc		1,386
	258,678	*	Ann Taylor Stores Corp		9,760
	68,200		AOKI Holdings, Inc		1,476
	184,941		Aoyama Trading Co Ltd		3,536
	95,746		ARB Corp Ltd		968
	14,000		Arc Land Sakamoto Co Ltd		208
	17,200	e	Asahi Co Ltd		292
	103,721	*	Asbury Automotive Group, Inc		2,899
	328,365	*	Ascena Retail Group, Inc		7,043
	26,400		ASKUL Corp		430
	324,143	*,e	ASOS plc		11,510
	68,580	*,e	Audiovox Corp (Class A)		513
	274,000		Aurora Corp		422
	59,031	e	Autobacs Seven Co Ltd		2,673
	321,119		Automotive Holdings Group		1,006
	50,756	*,e	Autonation, Inc		2,217
	210,839	*	Autozone, Inc		77,942
	90,900		B2W Companhia Global Do Varejo		478
	111,105	*,e	Barnes & Noble, Inc		1,420

138

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	50,661		BasicNet S.p.A	$	112
	166,314		Bebe Stores, Inc		798
	1,592,036	*	Bed Bath & Beyond, Inc		100,299
	5,917,600	e	Belle International Holdings Ltd		10,694
	51,400		Belluna Co Ltd		417
	4,388,945	e	Best Buy Co, Inc		75,447
	66,000	*,e	Best Denki Co Ltd		115
	37,787		Beter BED Holding NV		733
	1,063	e	BIC CAMERA, Inc		539
	87,880	e	Big 5 Sporting Goods Corp		874
	286,861	*	Big Lots, Inc		8,485
	49,126		Bilia AB (A Shares)		655
	48,217	*,e	Blue Nile, Inc		1,788
	106,460	*,e	Body Central Corp		1,113
	1,218,000	e	Bonjour Holdings Ltd		162
	108,295	e	Bon-Ton Stores, Inc		1,029
	1,287,000	e,m	Boshiwa International Holding		139
	4,465	*	Boyner Buyuk Magazacilik		10
	112,540		Brick Ltd		424
	191,721	e	Brown Shoe Co, Inc		3,073
	102,168	e	Buckle, Inc		4,641
	72,301		Byggmax Group AB		350
	177,830	*,e	Cabela’s, Inc		9,724
	10,965	*,e	CafePress, Inc		100
	103,618	e	Canadian Tire Corp Ltd		7,458
	198,806		Canon Marketing Japan, Inc		2,745
	297,929	*	Carmax, Inc		8,431
	61,819	*,e	Carpetright plc		657
	10,585		Cashbuild Ltd		197
	157,920	*	Casual Male Retail Group, Inc		731
	101,825		Cato Corp (Class A)		3,025
	71,294	*	CDON Group AB		448
	94,833		CFAO S.A.		4,541
	8,855		Charles Voegele Holding AG.		138
	239,796		Chico’s FAS, Inc		4,343
	689,419	*,e	Children’s Place Retail Stores, Inc		41,365
	1,371,500	*,e	China ZhengTong Auto Services Holdings Ltd		858
	89,700		Chiyoda Co Ltd		2,461
	11,000	*	Chori Co Ltd		126
	745,000	e	Chow Sang Sang Holding		1,839
	186,200		Cia Hering		4,209
	80,678	*,e	Citi Trends, Inc		1,013
	3,813		CJ O Shopping Co Ltd		814
	88,141	e	Clas Ohlson AB (B Shares)		1,155
	15,138	*,e	Coldwater Creek, Inc		13
	217,684	*,e	Collective Brands, Inc		4,726
	89,896	*,e	Conn’s, Inc		1,982
	51,710	e	Core-Mark Holding Co, Inc		2,488
	1,935,000	e	Dah Chong Hong Holdings Ltd		1,752
	112,300	*,e	Daiei, Inc		239
	3,013,805	e	David Jones Ltd		7,826
	280,100	e	DCM Japan Holdings Co Ltd		1,866

139

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	3,757,971		Debenhams plc	$	6,225
	37,103		Delek Automotive Systems Ltd		227
	7,562		Delticom AG.		505
	58,502		Destination Maternity Corp		1,094
	499,769		Dick’s Sporting Goods, Inc		25,913
	10,099,000		Dickson Concepts International Ltd		5,417
	30,350		Dieteren S.A.		1,483
	66,093		Dillard’s, Inc (Class A)		4,780
	193,883		Dogus Otomotiv Servis ve Ticaret AS		655
	1,151,531	*	Dollar General Corp		59,350
	1,560,341	*	Dollar Tree, Inc		75,325
	267,117		Dollarama, Inc		17,050
	70,800		Don Quijote Co Ltd		2,727
	11,300	e	Doshisha Co Ltd		327
	29,936		Douglas Holding AG.		1,359
	15,997,135	*,e	DSG International plc		5,131
	295,479		DSW, Inc (Class A)		19,714
	28,782	*	Dufry Group		3,453
	158,476		Dunelm Group plc		1,647
	95,483	e	EDION Corp		422
	189,820	e	El Puerto de Liverpool SAB de C.V.		1,677
	326,000		E-LIFE MALL Corp		755
	4,030,000	e	Emperor Watch & Jewellery Ltd		433
	431,675		Empresas Hites S.A.		265
	277,791		Empresas La Polar S.A.		119
	3,055,100	e	Esprit Holdings Ltd		4,683
	1,162,863		Expedia, Inc		67,260
	2,199,310		Express Parent LLC		32,594
	181,313		Family Dollar Stores, Inc		12,021
	1,211,046		Far Eastern Department Stores Co Ltd		1,301
	53,589		Fast Retailing Co Ltd		12,445
	247,761		Finish Line, Inc (Class A)		5,634
	41,433	*,e	Five Below, Inc		1,619
	1,977,152		Foot Locker, Inc		70,189
	396,984		Foschini Ltd		6,032
	161,802	*,e	Francesca’s Holdings Corp		4,972
	147,973	e	Fred’s, Inc (Class A)		2,106
	28,200	e	Fuji Co Ltd		636
	3,250,000	b,e,m	Game Group plc		52
	794,770	e	GameStop Corp (Class A)		16,690
	2,318,939		Gap, Inc		82,973
	122,366	*	Genesco, Inc		8,165
	513,108		Genuine Parts Co		31,314
	1,059	e	Geo Corp		1,213
	3,824,377	e	Giordano International Ltd		3,207
	496,907		GNC Holdings, Inc		19,364
	1,073,900	e	Golden Eagle Retail Group Ltd		2,093
	464,000		Goldlion Holdings Ltd		203
	14,356,408	e	GOME Electrical Appliances Holdings Ltd		1,507
	29,392	*,e	Gordmans Stores, Inc		542
	90,809	e	Group 1 Automotive, Inc		5,469
	107,336	*,e	Groupon, Inc		511

140

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	1,337,400	*	Grupo Famsa SAB de C.V.	$	1,465
	7,708		GS Home Shopping, Inc		764
	169,804		Guess?, Inc		4,316
	5,870	e	Gulliver International Co Ltd		168
	1,048		GwangjuShinsegae Co Ltd		222
	93,500		Hai-O Enterprise BHD		63
	279,278		Halfords Group plc		1,178
	146,825	e	Hankyu Department Stores, Inc		1,676
	347,514	e	Harvey Norman Holdings Ltd		695
	78,613		Haverty Furniture Cos, Inc		1,091
	47,378	*	Hellenic Duty Free Shops S.A.		554
	8,900,700	e	Hengdeli Holdings Ltd		2,560
	906,314		Hennes & Mauritz AB (B Shares)		31,543
	58,808	*,e	HHgregg, Inc		406
	97,376	*	Hibbett Sports, Inc		5,789
	27,401	e	Hikari Tsushin, Inc		1,452
	5,914,213		Home Depot, Inc		357,042
	1,084,145	e	Home Retail Group		1,563
	80,850	*,e	HomeAway, Inc		1,896
	20,620	e	Honeys Co Ltd		316
	149,797		Hot Topic, Inc		1,303
	678,000		Hotai Motor Co Ltd		4,839
	138,237		HSN, Inc		6,781
	20,379		Hyundai Department Store Co Ltd		2,789
	63,630		Hyundai H&S Co Ltd		1,061
	8,582		Hyundai Home Shopping Network Corp		924
	549,783		Imperial Holdings Ltd		12,369
	1,081,054		Inchcape plc		6,294
	475,977		Inditex S.A.		59,141
	14,492	*	Interpark Corp		88
	5,768,700	e	Intime Department Store Group Co Ltd		6,203
	896,387		Isetan Mitsukoshi Holdings Ltd		9,340
	578,000		IT Ltd		244
	80,800	e	Izumi Co Ltd		1,741
	613,066		J Front Retailing Co Ltd		3,436
	162,487		Jardine Cycle & Carriage Ltd		6,342
	360,832	e	JB Hi-Fi Ltd		3,379
	995,799	e	JC Penney Co, Inc		24,188
	49,909	e	JD Group Ltd		279
	7,000	e	Jin Co Ltd		154
	82,532		John Menzies plc		860
	102,265	*	JOS A Bank Clothiers, Inc		4,958
	55,000		Joshin Denki Co Ltd		649
	193,762		JUMBO S.A.		1,072
	253,486	*,e	KappAhl Holding AB		251
	12,200	*	Kayak Software Corporation		431
	37,987	e	Keiyo Co Ltd		219
	733,322	e	Kesa Electricals plc		670
	4,113,113		Kingfisher plc		17,583
	82,387	*	Kirkland’s, Inc		818
	329,601		Kohl’s Corp		16,882
	27,400	e	Kohnan Shoji Co Ltd		323

141

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	26,200	e	Kojima Co Ltd	$	71
	41,000		Komeri Co Ltd		1,043
	17,900	e	Konaka Co Ltd		164
	60,863	e	K’s Holdings Corp		1,514
	13,722		LES Enphants Co Ltd		11
	305,204		Lewis Group Ltd		2,621
	9,047,977	e	Li & Fung Ltd		13,952
	2,269,482	*	Liberty Media Holding Corp (Interactive A)		41,985
	72,932	*	Liberty Ventures		3,620
	796,002		Lifestyle International Holdings Ltd		1,641
	873,699		Limited Brands, Inc		43,038
	78,204		Lithia Motors, Inc (Class A)		2,605
	812,410	*,e	LKQ Corp		15,029
	533,163		Lojas Americanas S.A.		4,174
	165,050		Lojas Renner S.A.		5,528
	501,440		Lookers plc		604
	29,790		Lotte Midopa Co Ltd		338
	19,995		Lotte Shopping Co Ltd		5,734
	3,142,281		Lowe’s Companies, Inc		95,024
	398,000	e	Luk Fook Holdings International Ltd		1,312
	102,258	*,e	Lumber Liquidators, Inc		5,182
	3,523,278		Macy’s, Inc		132,546
	114,500		Magazine Luiza S.A.		691
	1,211,000	e	Maoye International Holdings Ltd		213
	81,689	*	MarineMax, Inc		677
	331,365		Marks & Spencer Group plc		1,912
	959,397	e	Marui Co Ltd		6,784
	37,800	*,e	Matsuya Co Ltd		422
	40,053	*,e	Mattress Firm Holding Corp		1,127
	143,600		MBM Resources BHD		158
	39,700		Megane TOP Co Ltd		459
	48,544		Mekonomen AB		1,437
	189,673		Men’s Wearhouse, Inc		6,530
	365,330		Mercuries & Associates Ltd		358
	1,288,102	e	MFI Furniture plc		3,096
	70,933		Mobilezone Holding AG.		747
	113,216	e	Monro Muffler, Inc		3,984
	104,217	e	Mothercare plc		366
	516,867	e	Mr Price Group Ltd		7,824
	9,314,205	e	Myer Holdings Ltd		16,765
	217,333		N Brown Group plc		965
	13,000		Nafco Co Ltd		233
	341,000		National Petroleum Co Ltd		360
	52,771	*	NET Holding AS		54
	143,554	*,e	NetFlix, Inc		7,815
	1,089,000	e	New World Department Store China Ltd		601
	165,331	*	New York & Co, Inc		620
	511,805		Next plc		28,553
	94,000		Nice Holdings, Inc		214
	77,100		Nishimatsuya Chain Co Ltd		642
	68,300		Nissen Holdings Co Ltd		283
	64,327		Nitori Co Ltd		5,970

142

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	1,055,502		Nordstrom, Inc	$	58,243
	127,189	e	Nutri/System, Inc		1,339
	406,238	*,e	Ocado Ltd		424
	1,213,678	*,e	Office Depot, Inc		3,107
	1,655,744		OfficeMax, Inc		12,931
	137,292	*,e	Orbitz Worldwide, Inc		350
	8,880	*,e	Orchard Supply Hardware Stores Corp		129
	735,486	*,e	O’Reilly Automotive, Inc		61,501
	526,000		Oriental Watch Holdings		174
	59,420		OrotonGroup Ltd		430
	733,000		OSIM International Ltd		832
	12,100		Otsuka Kagu Ltd		116
	50,883	*,e	Overstock.com, Inc		527
	1,289,280		Pacific Brands Ltd		810
	198,400		Padini Holdings BHD		136
	5,950		Pal Co Ltd		340
	73,300		Paltac Corp		1,057
	212,000		Pantaloon Retail India Ltd		856
	40,882	e	Parco Co Ltd		439
	36,800		Paris Miki, Inc		217
	605,760		Parkson Holdings BHD		954
	1,894,000	e	Parkson Retail Group Ltd		1,586
	4,488,000		PCD Stores Ltd		357
	2,169,049	*	Pendragon plc		508
	154,890		Penske Auto Group, Inc		4,661
	215,117	e	PEP Boys - Manny Moe & Jack		2,190
	11,710	*,e	Perfumania Holdings, Inc		84
	75,959	e	PetMed Express, Inc		763
	889,835		Petsmart, Inc		61,381
	431,542		Pier 1 Imports, Inc		8,087
	20,270		Point, Inc		729
	2,118,000	*	Pou Sheng International Holdings Ltd		129
	77,119		PPR		11,836
	109,213		Premier Investments Ltd		659
	210,090	*	Priceline.com, Inc		129,989
	1,929,000		PT ACE Hardware Indonesia Tbk		1,237
	990,000		PT Indomobil Sukses Internasional Tbk		587
	860,000		PT Mitra Adiperkasa Tbk		573
	4,330,500		PT Ramayana Lestari Sentosa Tbk		473
	404,019	e	RadioShack Corp		962
	779,600	*	Rakuten, Inc		7,927
	65,637		Reitmans Canada Ltd		868
	97,759	e	Reject Shop Ltd		1,248
	235,843		Rent-A-Center, Inc		8,273
	694,400		Robinson Department Store PCL		1,458
	714,200		Robinson Department Store PCL (ADR)		1,499
	191,463		RONA, Inc		2,160
	1,223,132		Ross Stores, Inc		79,015
	55,082	*,e	Rue21, Inc		1,716
	27,300		Ryohin Keikaku Co Ltd		1,721
	1,352,000	e	SA SA International Holdings Ltd		922
	811,233		SACI Falabella		8,191

143

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	466,304	*,e	Saks, Inc	$	4,808
	904,345	*	Sally Beauty Holdings, Inc		22,690
	147,400	e	Sanrio Co Ltd		5,272
	43,108	*,e	Sears Holdings Corp		2,392
	292,744	*,e	Select Comfort Corp		9,236
	48,600		Senshukai Co Ltd		320
	25,250	*	Seobu Truck Terminal Co Ltd		628
	20,300	*	Seria Co Ltd		338
	59,900		Shimachu Co Ltd		1,248
	20,945		Shimamura Co Ltd		2,438
	16,600	e	Shimojima Co Ltd		216
	9,065		Shinsegae Co Ltd		1,708
	3,589		Shinsegae International Co Ltd		302
	1,442,000	m	Shirble Department Stores		67
	54,858		Shoe Carnival, Inc		1,291
	133,079	*,e	Shutterfly, Inc		4,141
	1,159,000	e	Sichuan Xinhua Winshare Chainstore Co Ltd		572
	2,521,380		Signet Jewelers Ltd		122,943
	1,958,549	e	Silver base Group Holdings Ltd		827
	145,673	e	Sonic Automotive, Inc (Class A)		2,765
	16,835	*,e	Sourceforge, Inc		326
	252,082	*	Sports Direct International plc		1,403
	125,523		Stage Stores, Inc		2,644
	925,719	e	Staples, Inc		10,664
	65,900	e	Start Today Co Ltd		941
	112,151	e	Stein Mart, Inc		954
	67,705	e	Stockmann Oyj Abp (B Share)		1,292
	287,792		Super Cheap Auto Group Ltd		2,322
	598,761	*	Super Group Ltd		1,104
	35,840	*,e	SuperGroup plc		346
	35,350	*	Systemax, Inc		417
	1,630,995		Takashimaya Co Ltd		11,182
	36,569		Takihyo Co Ltd		209
	47,131		Takkt AG.		575
	4,693,346		Target Corp		297,886
	29,656	*,e	Teavana Holdings, Inc		387
	36,200		Telepark Corp		350
	7,638,865		Test-Rite International Co		5,479
	893,917	e	Tiffany & Co		55,316
	45,262	*,e	Tilly’s, Inc		830
	5,548,296		TJX Companies, Inc		248,509
	19,706		Tom Tailor Holding AG.		420
	248,228		Tractor Supply Co		24,547
	678,671		Trade Me Ltd		2,249
	1,143		Trent Ltd		25
	242,497	*,e	TripAdvisor, Inc		7,985
	708,083		Truworths International Ltd		8,005
	327,000		Tsann Kuen Enterprise Co Ltd		699
	175,603		Tsutsumi Jewelry Co Ltd		4,287
	173,968	*	Tuesday Morning Corp		1,139
	237,433		Ulta Salon Cosmetics & Fragrance, Inc		22,866
	1,331,999		United Arrows Ltd		35,566

144

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	346,206	*	Urban Outfitters, Inc	$	13,003
	53,902	*	US Auto Parts Network, Inc		187
	50,085	e	USS Co Ltd		5,289
	3,749		Valora Holding AG.		666
	140,000	*,e	Vipshop Holdings Ltd (ADR)		1,050
	81,505	*,e	Vitacost.com, Inc		553
	144,102	*,e	Vitamin Shoppe, Inc		8,404
	158,765		Warehouse Group Ltd		386
	63,824	*,e	West Marine, Inc		678
	319,910	*,e	Wet Seal, Inc (Class A)		1,008
	392,261		WH Smith plc		4,102
	120,507		Williams-Sonoma, Inc		5,299
	7,915	e	Winmark Corp		428
	2,031,368		Woolworths Holdings Ltd		14,833
	137,041	e	Wotif.com Holdings Ltd		546
	83,500		Xebio Co Ltd		1,732
	73,710	e	Yamada Denki Co Ltd		3,233
	59,700	e	Yellow Hat Ltd		825
	50,638	*,e	Yoox S.p.A		649
	866,000	e	Zhongsheng Group Holdings Ltd		1,078
	3,016	*	zooplus AG.		126
	79,274	*,e	Zumiez, Inc		2,198
			TOTAL RETAILING		4,189,786
SEMICONDUCTORS & SEMICONDUCTOR EQUIPMENT - 2.1%
	237,676	*	Advanced Energy Industries, Inc		2,928
	1,599,601	*,e	Advanced Micro Devices, Inc		5,391
	12,864,727		Advanced Semiconductor Engineering, Inc		9,844
	87,291		Advanced Wireless Semiconductor Co		77
	1,251,512	e	Advantest Corp		16,271
	128,831	e	Aixtron AG.		1,704
	405,000		Alcor Micro Corp		579
	544,000		ALI Corp		678
	90,604	*	Alpha & Omega Semiconductor Lt		780
	842,540		Altera Corp		28,634
	26,422	*	Aminologics Co Ltd		92
	289,122	*,e	Amkor Technology, Inc		1,272
	247,417	*,e	Anadigics, Inc		344
	1,095,426		Analog Devices, Inc		42,930
	2,927,932		Applied Materials, Inc		32,690
	223,176	*,e	Applied Micro Circuits Corp		1,129
	438,122		Ardentec Corp		302
	2,482,231		ARM Holdings plc		23,168
	10,331	*	Asia Pacific Systems, Inc		86
	95,412	e	ASM International NV		3,209
	237,136	e	ASM Pacific Technology		2,804
	656,162		ASML Holding NV		35,097
	1,030,117	*	Atmel Corp		5,418
	115,753	*	ATMI, Inc		2,150
	50,764	*	Atto Co Ltd		230
	92,910		AUK Corp		183
	67,621		Austriamicrosystems AG.		6,750

145

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	280,213	*	AuthenTec, Inc	$	2,245
	2,572,608		Avago Technologies Ltd		89,694
	595,234	*	Axcelis Technologies, Inc		625
	5,100		Axell Corp		120
	153,584	*	AXT, Inc		519
	60,123		BE Semiconductor Industries NV		434
	382,000		Bright Led Electronics Corp		229
	3,537,961		Broadcom Corp (Class A)		122,342
	341,177	e	Brooks Automation, Inc		2,740
	85,504		Cabot Microelectronics Corp		3,005
	48,309		Capella Microsystems Taiwan, Inc		264
	303,932	*,e	Cavium Networks, Inc		10,130
	101,852	*,e	Ceva, Inc		1,465
	11,538	*,e,m	China Energy Savings Technology, Inc		0^
	514,000		Chipbond Technology Corp		812
	289,912	*	Cirrus Logic, Inc		11,130
	97,776	e	Cohu, Inc		918
	1,436,000	*,e	Comtec Solar Systems Group Ltd		149
	266,696	*,e	Cree, Inc		6,809
	402,277		CSR plc		2,070
	139,927	*	Cymer, Inc		7,145
	673,675		Cypress Semiconductor Corp		7,222
	272,616	e	Dainippon Screen Manufacturing Co Ltd		1,335
	115,874		DelSolar Co Ltd		49
	74,209	*	Dialog Semiconductor plc		1,447
	127,186	*,e	Diodes, Inc		2,163
	40,272	e	Disco Corp		1,937
	28,380	*	Dongbu HiTek Co Ltd		183
	90,065	*	DSP Group, Inc		535
	20,687	*	Duksan Hi-Metal Co Ltd		376
	117,482		Edison Opto Corp		186
	488,000		Elan Microelectronics Corp		858
	252,000		Elite Semiconductor Memory Technology, Inc		216
	12,506		ELK Corp		218
	22,174		Elmos Semiconductor AG.		211
	155,100	*,m	Elpida Memory, Inc		0^
	209,571		eMemory Technology, Inc		442
	701,063	*	Entegris, Inc		5,700
	412,145	*,e	Entropic Communications, Inc		2,399
	8,127		Eo Technics Co Ltd		230
	192,000		Episil Technologies, Inc		63
	848,578		Epistar Corp		1,804
	292,000	*	E-Ton Solar Tech Co Ltd		121
	859,997		Etron Technology, Inc		284
	17,500		Eugene Technology Co Ltd		214
	149,306	*	Exar Corp		1,194
	470,845	*	Fairchild Semiconductor International, Inc		6,177
	339,101		Faraday Technology Corp		531
	208,400	e	Ferrotec		809
	279,628	*,e	First Solar, Inc		6,192
	878,000		Forhouse Corp		463
	169,703	*	Formfactor, Inc		949

146

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	353,000		Formosa Advanced Technologies Co Ltd	$	265
	523,000		Formosa Epitaxy, Inc		380
	1,258,737	*,e	Freescale Semiconductor Holdings Ltd		11,971
	139,938	*	FSI International, Inc		868
	3,000	e	Furuya Metal Co Ltd		86
	9,932,000	e	GCL Poly Energy Holdings Ltd		1,509
	29,927	*	GemVax & Kael Co Ltd		1,038
	264,819	*	Genesis Photonics, Inc		241
	26,150		Giga Solar Materials Corp		239
	446,850		Gintech Energy Corp		457
	58,000		Global Lighting Technologies, Inc		98
	172,000		Global Mixed Mode Technology, Inc		560
	117,000		Global Unichip Corp		464
	194,561		Green Energy Technology, Inc		138
	89,642	*,e	GSI Technology, Inc		444
	473,321	*,e	GT Solar International, Inc		2,580
	780,600		Hana Microelectronics PCL		530
	10,654		Hana Micron, Inc		61
	32,950		Hanmi Semiconductor Co Ltd		213
	8,940		Hansol LCD, Inc		134
	135,983		Harvatek Corp		71
	2,992,000	*	Heng Xin China Holdings Ltd		110
	126,970	*	Hittite Microwave Corp		7,043
	458,000		Holtek Semiconductor, Inc		483
	225,862		Huga Optotech, Inc		97
	729,620		Hynix Semiconductor, Inc		14,828
	14,602	*	ICD Co Ltd		182
	24,010		Iljin Display Co Ltd		393
	2,900,631	*	Imagination Technologies Group plc		22,283
	876,542		Infineon Technologies AG.		5,571
	1,752,377	*	Inotera Memories, Inc		302
	94,319	*	Inphi Corp		1,005
	618,306	*	Integrated Device Technology, Inc		3,636
	46,175	*	Integrated Memory Logic Ltd		156
	120,744	*	Integrated Silicon Solution, Inc		1,118
	21,442,492		Intel Corp		486,315
	52,441	*,e	Intermolecular, Inc		372
	252,125	*	International Rectifier Corp		4,208
	534,029		Intersil Corp (Class A)		4,673
	635,648	*	IQE plc		277
	161,000		ITE Technology, Inc		143
	112,465	*	IXYS Corp		1,116
	31,816	*	Jusung Engineering Co Ltd		195
	20,841		KC Tech Co Ltd		81
	1,857,000		King Yuan Electronics Co Ltd		1,020
	319,669		Kinsus Interconnect Technology Corp		935
	661,294	e	Kla-Tencor Corp		31,547
	10,973		Koh Young Technology, Inc		255
	139,995		Kontron AG.		624
	247,032	*,e	Kopin Corp		929
	5,389	*	Kulicke & Soffa Industries, Inc		56
	746,251	*	Lam Research Corp		23,720

147

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	584,086	*	Lattice Semiconductor Corp	$	2,237
	292,726		Lextar Electronics Corp		265
	680,365		Linear Technology Corp		21,670
	142,000		Lingsen Precision Industries Ltd		83
	655,000		Lite-On Semiconductor Corp		342
	2,612,485	*	LSI Logic Corp		18,052
	169,239	*	LTX-Credence Corp		973
	16,088	*	Lumens Co Ltd		106
	22,326	*	MA-COM Technology Solutions		284
	181,000		Macroblock, Inc		800
	3,785,140		Macronix International		1,258
	1,098,972		Marvell Technology Group Ltd		10,056
	217,209	*,e	Mattson Technology, Inc		211
	1,417,990		Maxim Integrated Products, Inc		37,747
	83,127	*,e	MaxLinear, Inc		556
	2,320,323		MediaTek, Inc		24,431
	21,800	*,e	Megachips Corp		484
	46,633		Melexis NV		787
	13,057		Melfas, Inc		260
	22,693	*	Mellanox Technologies Ltd		2,354
	938,554	*,e	MEMC Electronic Materials, Inc		2,581
	331,816	e	Micrel, Inc		3,458
	505,196	e	Microchip Technology, Inc		16,540
	5,258,356	*,e	Micron Technology, Inc		31,471
	43,259		Micronas Semiconductor Holdings, Inc		429
	326,807	*	Microsemi Corp		6,559
	46,600		Mimasu Semiconductor Industry Co Ltd		355
	118,167	*,e	Mindspeed Technologies, Inc		409
	201,520	*,e	MIPS Technologies, Inc		1,489
	31,800		Mitsui High-Tec, Inc		221
	282,171		MKS Instruments, Inc		7,193
	123,762	*	Monolithic Power Systems, Inc		2,444
	121,641	*,e	MoSys, Inc		491
	244,026		Motech Industries, Inc		256
	37,000		MPI Corp		79
	353,499		MStar Semiconductor, Inc		2,831
	112,019	*,e	Nanometrics, Inc		1,547
	578,277		Neo Solar Power Corp		374
	74,633	*,e	NeoPhotonics Corp Ltd		436
	16,406		NEPES Corp		244
	169,803	e	Nordic Semiconductor ASA		506
	1,590,826		Novatek Microelectronics Corp Ltd		5,728
	25	*	Nuflare Technology, Inc		220
	20,248	*,e	NVE Corp		1,198
	2,709,678	*	Nvidia Corp		36,147
	223,625	*	Omnivision Technologies, Inc		3,121
	3,540,681	*	ON Semiconductor Corp		21,846
	1,366,000		Opto Technology Corp		612
	897,000	*	Orient Semiconductor Electronics Ltd		137
	50,000		Orise Technology Co Ltd		64
	24,728	*	Osung LST Co Ltd		96
	263,000		Pan Jit International, Inc		109

148

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	25,000		Parade Technologies Ltd	$	309
	90,893	*	PDF Solutions, Inc		1,242
	13,000	*	Peregrine Semiconductor Corp		220
	110,663	*	Pericom Semiconductor Corp		961
	149,547		Phison Electronics Corp		1,201
	218,180	*	Photronics, Inc		1,172
	132,613		Pixart Imaging, Inc		375
	161,820	*,e	PLX Technology, Inc		934
	495,580	*	PMC - Sierra, Inc		2,795
	143,527		Power Integrations, Inc		4,368
	584,560	*	Powerchip Semiconductor Corp		17
	877,725		Powertech Technology, Inc		1,677
	142,826	*,e	QuickLogic Corp		400
	527,360		Radiant Opto-Electronics Corp		2,279
	507,952	*,e	Rambus, Inc		2,814
	551,891		Realtek Semiconductor Corp		1,087
	1,529,000		Regent Manner International Ltd		336
	1,076,228	*,e	Renewable Energy Corp AS		331
	2,636,266	*	RF Micro Devices, Inc		10,413
	298,661		Richtek Technology Corp		1,782
	153,101		Rohm Co Ltd		5,156
	68,556	*,e	Rubicon Technology, Inc		657
	147,855	*,e	Rudolph Technologies, Inc		1,552
	253,820		Samsung Electronics Co Ltd		305,877
	32,200		Samsung Electronics Co Ltd (Preference)		22,760
	3,358		San Chih Semiconductor Co		3
	155,000	*,e	Sanken Electric Co Ltd		488
	321,000		SDI Corp		236
	4,390,000	*,e	Semiconductor Manufacturing International		161
	236,054	*	Semtech Corp		5,937
	47,001		Seoul Semiconductor Co Ltd		920
	90,000		Shindengen Electric Manufacturing Co Ltd		197
	382,900	e	Shinko Electric Industries		2,423
	119,857	*,e	Sigma Designs, Inc		792
	30,680	*	Signetics Corp		84
	233,000		Sigurd Microelectronics Corp		192
	160,280	*	Silex Systems Ltd		643
	537,455	*	Silicon Image, Inc		2,467
	1,350,000		Silicon Integrated Systems Corp		485
	105,137	*,e	Silicon Laboratories, Inc		3,865
	10,655		Silicon Works Co Ltd		280
	8,621,031		Siliconware Precision Industries Co		9,547
	98,101		Simm Tech Co Ltd		1,104
	536,750		Sino-American Silicon Products, Inc		724
	4,900,000	*,m	Sino-Tech International Holdings Ltd		11
	65,000		Sitronix Technology Corp		93
	75,584		Skymedi Corp		79
	1,031,533	*	Skyworks Solutions, Inc		24,308
	148,621	*,e	SOITEC		441
	2,330,000	e	Solargiga Energy Holdings Ltd		118
	155,450		Solartech Energy Corp		111
	119,379	e	Solarworld AG.		235

149

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	401,000		Sonix Technology Co Ltd	$	573
	214,362	*	Spansion, Inc		2,555
	484,639	e	Spreadtrum Communications, Inc (ADR)		9,964
	1,043,294		STMicroelectronics NV		5,631
	109,424	*,e	STR Holdings, Inc		339
	37,592		STS Semiconductor & Telecommunications		196
	105,425	*	Sumco Corp		710
	1,407,000		Sunplus Technology Co Ltd		478
	303,819	*,e	SunPower Corp		1,370
	42,181	*	Supertex, Inc		754
	25,119	*	Suss Microtec AG.		241
	327,958		TA-I Technology Co Ltd		200
	529,000		Taiwan Semiconductor Co Ltd		260
	45,954,667		Taiwan Semiconductor Manufacturing Co Ltd		141,368
	597,969		Taiwan Surface Mounting Technology Co Ltd		1,061
	431,000		Tekcore Co Ltd		207
	2,030,608	*	Teradyne, Inc		28,875
	186,449		Tessera Technologies, Inc		2,551
	3,248,306		Texas Instruments, Inc		89,491
	275,041	e	Tokyo Electron Ltd		11,717
	51,600		Tokyo Seimitsu Co Ltd		715
	540,860		Topco Scientific Co Ltd		874
	8,610	*	Toptec Co Ltd		125
	18,268	*	Tower Semiconductor Ltd		160
	499,508		Transcend Information, Inc		1,349
	721,659	*	Triquint Semiconductor, Inc		3,644
	1,746,000	m	Trony Solar Holdings Co Ltd.		71
	852,148		Tyntek Corp		261
	109,929	*,e	Ultra Clean Holdings		628
	162,856	*	Ultratech, Inc		5,110
	54,200	e	Ulvac, Inc		411
	971,100		Unisem M BHD		317
	16,530,022		United Microelectronics Corp		6,840
	408,029		Unity Opto Technology Co Ltd		437
	820,000		Vanguard International Semiconductor Corp		506
	165,853	*,e	Veeco Instruments, Inc		4,979
	1,311,000	*	Via Technologies, Inc		479
	282,425		Visual Photonics Epitaxy Co Ltd		389
	151,064	*	Volterra Semiconductor Corp		3,304
	298,833		Wafer Works Corp		170
	703,000		Walton Advanced Engineering, Inc		221
	540,737		Win Semiconductors Corp		676
	3,587,000	*	Winbond Electronics Corp		537
	193,814	*,e	Wolfson Microelectronics plc		626
	32,630	*	Woongjin Energy Co Ltd		64
	689,238		Xilinx, Inc		23,027
	100,329		Youngtek Electronics Corp		242
			TOTAL SEMICONDUCTORS & SEMICONDUCTOR EQUIPMENT		2,221,622
SOFTWARE & SERVICES - 7.3%
	235,474	*,e	Accelrys, Inc		2,039
	3,262,407		Accenture plc		228,466

150

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	233	*	Access Co Ltd	$	190
	142,394	*	ACI Worldwide, Inc		6,018
	145,909	*,e	Active Network, Inc		1,828
	1,002,669		Activision Blizzard, Inc		11,310
	198,755	*	Actuate Corp		1,397
	399,812	*	Acxiom Corp		7,305
	2,407,994	*,e	Adobe Systems, Inc		78,163
	127,274	*	Advent Software, Inc		3,127
	4,984		Ahnlab, Inc		347
	558,052	*	Akamai Technologies, Inc		21,351
	585,492	*,e	Alliance Data Systems Corp		83,111
	307,347		Alpha Systems, Inc		4,008
	48,829		Alten		1,562
	122,277	*	Altran Technologies S.A.		803
	373,233		Amadeus IT Holding S.A.		8,702
	559,345		Amdocs Ltd		18,453
	99,584	*	American Software, Inc (Class A)		813
	116,568	*,e	Ancestry.com, Inc		3,506
	131,315	*,e	Angie’s List, Inc		1,389
	302,720	*	Ansys, Inc		22,220
	839,248	*,e	AOL, Inc		29,567
	264,387		Argo Graphics, Inc		3,388
	248,628	*	Ariba, Inc		11,139
	782,382	*	Aspen Technology, Inc		20,225
	136,505		Asseco Poland S.A.		1,903
	542,361		Atos Origin S.A.		37,736
	775,010	*	Autodesk, Inc		25,862
	1,654,693		Automatic Data Processing, Inc		97,064
	437,835		Aveva Group plc		13,931
	30,171	*	AVG Technologies NV		290
	4,275		Axway Software S.A.		69
	31,764		Babylon Ltd		269
	167,391	*,e	Bankrate, Inc		2,608
	39,463	*,e	Bazaarvoice, Inc		598
	39,893		Bechtle AG.		1,540
	17,800	e	Bit-isle, Inc		185
	231,530	e	Blackbaud, Inc		5,538
	368,457	*,e	Blinkx plc		344
	155,921	*	Blucora, Inc		2,777
	982,232	*	BMC Software, Inc		40,753
	56,076	e	Booz Allen Hamilton Holding Co		777
	129,974	*	Bottomline Technologies, Inc		3,209
	21,784	*,e	Brightcove, Inc		254
	315,515		Broadridge Financial Solutions, Inc		7,361
	98,121	*,e	BroadSoft, Inc		4,025
	1,153,993		CA, Inc		29,733
	104,729	*,e	CACI International, Inc (Class A)		5,424
	700,416	*	Cadence Design Systems, Inc		9,011
	122,711	*,e	Callidus Software, Inc		605
	503,084		Cap Gemini S.A.		21,260
	1,327,386	e	Capcom Co Ltd		27,461
	40,628	*,e	Carbonite, Inc		285

151

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	172,622	*	Cardtronics, Inc	$	5,141
	530,972	e	carsales.com.au Ltd		4,251
	38,263	e	Cass Information Systems, Inc		1,606
	5,875		Cegid Group		109
	438,811	*,e	CGI Group, Inc		11,784
	66,944	*	Check Point Software Technologies		3,224
	1,060,000	*,e	Chinasoft International Ltd		262
	25,000		Chinese Gamer International Corp		56
	258,033	*,e	Ciber, Inc		895
	819,448	*	Citrix Systems, Inc		62,745
	55,620	*,m	Clinical Data, Inc		53
	3,557		CMC Ltd		74
	1,113,934	*	Cognizant Technology Solutions Corp (Class A)		77,886
	27,010	*	Com2uSCorp		1,590
	225,782	*	Commvault Systems, Inc		13,253
	596,587		Companhia Brasileira de Meios de Pagamento		14,888
	210,785		Computacenter plc		1,294
	798,063		Computer Sciences Corp		25,706
	60,912	*	Computer Task Group, Inc		986
	502,465		Computershare Ltd		4,311
	498,327	*	Compuware Corp		4,938
	127,734	*	comScore, Inc		1,948
	205,785	*,e	Concur Technologies, Inc		15,173
	108,557	*,e	Constant Contact, Inc		1,889
	492,691		Convergys Corp		7,720
	61,572		Core Projects & Technologies Ltd		384
	123,385	*,e	Cornerstone OnDemand, Inc		3,783
	101,708	*	CoStar Group, Inc		8,293
	895,869	e	CSE Global Ltd		634
	191,315	e	CSG Ltd		90
	178,755	*	CSG Systems International, Inc		4,020
	109,023		Cupid plc		345
	53,283	*	CUROCOM Co Ltd		119
	155,252		Cyberlink Corp		545
	38,050		Daou Technology, Inc		594
	123,800	e	Dassault Systemes S.A.		13,007
	17,205		Daum Communications		1,751
	168,321	*,e	DealerTrack Holdings, Inc		4,688
	87,301	*,e	Deltek, Inc		1,137
	137,239	*,e	Demand Media, Inc		1,492
	24,539	*,e	Demandware, Inc		779
	153,389	e	Dena Co Ltd		5,088
	10,040		Devoteam S.A.		125
	328,694	*,e	Dice Holdings, Inc		2,768
	614	e	Digital Garage, Inc		1,079
	197,952	*,e	Digital River, Inc		3,298
	33,706		DMRC Corp		750
	21,551		Dragonfly GF Co Ltd		294
	256,531	e	DST Systems, Inc		14,509
	27,300		DTS Corp		373
	11,080	*	DuzonBIzon Co Ltd		98
	167	e	Dwango Co Ltd		252

152

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	1,500	*	E2open, Inc	$	20
	780,583	e	Earthlink, Inc		5,558
	6,944,162	*	eBay, Inc		336,168
	104,786	e	Ebix, Inc		2,474
	86,472		Econocom Group		521
	735,906	*	Electronic Arts, Inc		9,339
	84,104	*	Ellie Mae, Inc		2,290
	21,200	*	Eloqua, Inc		419
	162,297	e	Ementor ASA		1,594
	5,436		Engineering Ingegneria Informatica S.p.A.		171
	74,475	*,e	Envestnet, Inc		871
	18,242	*,e	Envivio, Inc		40
	74,509	*,e	EPAM Systems, Inc		1,411
	113,185		EPIQ Systems, Inc		1,519
	17,041	*	ePlus, Inc		668
	150,046	*	Equinix, Inc		30,917
	201,376	*	Euronet Worldwide, Inc		3,784
	13,100	*	EXA Corp		142
	19,693		Exact Holding NV		435
	35,586	*,e	ExactTarget, Inc		862
	118,916	*	ExlService Holdings, Inc		3,508
	1,220,243	*,e	Facebook, Inc		26,418
	121,692	e	Factset Research Systems, Inc		11,734
	171,900		Fair Isaac Corp		7,608
	148,104	*,e	FalconStor Software, Inc		348
	726,628		Fidelity National Information Services, Inc		22,685
	85,444		Fidessa Group plc		2,031
	31,893		Financial Technologies India Ltd		589
	529,518	*	First American Corp		14,048
	546,248	*	Fiserv, Inc		40,439
	367,775	*	FleetCor Technologies, Inc		16,476
	50,982		Forrester Research, Inc		1,467
	1,356,986	*	Fortinet, Inc		32,758
	170,964	e	F-Secure Oyj		378
	43,800	e	FUJI SOFT, Inc		919
	206		Future Architect, Inc		79
	97,000		Gamania Digital Entertainment Co Ltd		87
	13,393	*	GameHi Co Ltd		114
	163,139	*,e	GameLoft		1,086
	4,843	*	Gamevil, Inc		454
	590,180	*	Gartner, Inc		27,201
	327,547		Genpact Ltd		5,463
	617,254		Geodesic Information Systems Ltd		502
	141,205	*,e,m	Gerber Scientific, Inc		0^
	55,397		GFI Informatique		203
	298,503	*,e	Global Cash Access, Inc		2,403
	266,468		Global Payments, Inc		11,146
	111,303		Glodyne Technoserve Ltd		173
	181,649	*,e	Glu Mobile, Inc		841
	62,300		GMO internet, Inc		423
	10,200	e	GMO Payment Gateway, Inc		184
	5,265		Golfzon Co Ltd		246

153

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	1,257,736	*	Google, Inc (Class A)	$	948,963
	35,200	e	Gourmet Navigator, Inc		398
	350,000	*	Gravity Co Ltd (ADR)		448
	149,548	*,e	Gree, Inc		2,730
	63,532		Groupe Steria SCA		887
	53,372	*,e	Guidance Software, Inc		601
	72,659	*	Guidewire Software, Inc		2,256
	14,999		Haansoft, Inc		201
	115,216	*,e	Hackett Group, Inc		482
	31,308		HCL Infosystems Ltd		26
	264,620		HCL Technologies Ltd		2,889
	202,986		Heartland Payment Systems, Inc		6,431
	380,555		Hexaware Technologies Ltd		877
	115,582	*,e	Higher One Holdings, Inc		1,558
	82,875		HIQ International AB		437
	1,310,816		IAC/InterActiveCorp		68,241
	118,759	*	iGate Corp		2,158
	38,019	*,e	Imperva, Inc		1,406
	127,090	e	Indra Sistemas S.A.		1,234
	39,644		Industrial & Financial Systems		664
	465,393		Ines Corp		2,860
	35,923	*,e	Infoblox, Inc		835
	275,789	*	Informatica Corp		9,600
	351,900		Information Development Co		2,417
	36,800		Information Services International-Dentsu Ltd		376
	730,226		Infosys Technologies Ltd		35,195
	6,220	*	Infraware, Inc		40
	82,329	*,e	Innodata Isogen, Inc		333
	1,416,325	*	Innovation Group plc		504
	7,000		Insyde Software Corp		29
	51,615	*	Interactive Intelligence, Inc		1,551
	199,026	*	Internap Network Services Corp		1,403
	4,662,717		International Business Machines Corp		967,280
	91,000		International Games System Co Ltd		342
	27,000	e	Internet Initiative Japan, Inc		736
	1,654,511		Intuit, Inc		97,419
	195,591	*,e	Ipass, Inc		430
	148,273	e	Iress Market Technology Ltd		1,140
	238,260		IT Holdings Corp		3,100
	44,321		Itochu Techno-Science Corp		2,304
	187,802	e	j2 Global, Inc		6,164
	230,886		Jack Henry & Associates, Inc		8,751
	7,374		JCEntertainment Corp		217
	227,254	*	JDA Software Group, Inc		7,222
	848,923	*,e	Jive Software, Inc		13,337
	47,400	e	Kakaku.com, Inc		1,777
	139,301	*	Kenexa Corp		6,384
	53,765	e	Keynote Systems, Inc		779
	2,704,000	e	Kingdee International Software Group Co Ltd		555
	904,000	e	Kingsoft Corp Ltd		568
	166,788	*,e	KIT Digital, Inc		500
	131,194	*	Knot, Inc		1,095

154

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	116,231	*	Kofax plc	$	575
	223,517	e	Konami Corp		5,075
	45,619	*	KT Hitel Co Ltd		267
	649,757		Lender Processing Services, Inc		18,122
	235,712	*,e	Limelight Networks, Inc		552
	279,346	*,e	LinkedIn Corp		33,633
	238,947	*	Lionbridge Technologies		841
	124,361	*,e	Liquidity Services, Inc		6,244
	284,060	*	Liveperson, Inc		5,144
	90,187	*	LogMeIn, Inc		2,023
	64,745		MacDonald Dettwiler & Associates Ltd		3,385
	75,200	e	Macromill, Inc		946
	54,164	*	magicJack VocalTec Ltd		1,329
	98,397	e,f	Mail.ru (GDR) (purchased 08/31/11, cost $3,875)		3,296
	119,845	*	Manhattan Associates, Inc		6,864
	97,101	e	Mantech International Corp (Class A)		2,330
	85,184	e	Marchex, Inc (Class B)		325
	81,338	*	Market Leader, Inc		545
	521,832		Mastercard, Inc (Class A)		235,597
	42,075		Matrix IT Ltd		168
	37,052	*,e	Mattersight Corp		219
	181,319		MAXIMUS, Inc		10,828
	47,350	*,e	MeetMe, Inc		135
	372,915	*,e	Mentor Graphics Corp		5,773
	15,418	e	Mercadolibre, Inc		1,273
	481,086		Micro Focus International plc		4,587
	556,636	*	Micros Systems, Inc		27,342
	34,020,915		Microsoft Corp		1,013,144
	125,612	*	MicroStrategy, Inc (Class A)		16,841
	41,052	*,e	Millennial Media, Inc		589
	86	e	Mixi Inc		154
	191,924	e	ModusLink Global Solutions, Inc		708
	110,306	*,e	MoneyGram International, Inc		1,648
	681,279		Moneysupermarket.com Group plc		1,519
	1,779,127	*,e	Monitise plc		1,034
	152,435		Monotype Imaging Holdings, Inc		2,376
	509,061	*,e	Monster Worldwide, Inc		3,731
	149,405	*	Move, Inc		1,288
	107	e	MTI Ltd		103
	48,248	*	Myriad Group AG.		128
	2,809	*,e	NCI, Inc (Class A)		19
	18,423		NCsoft		3,935
	22,400		NEC Fielding Ltd		274
	24,700		NEC Networks & System Integration Corp		413
	12,273		Nemetschek AG.		529
	15,903	*	Neowiz Games Corp		377
	5,740	*	Neowiz Internet Corp		78
	62,466		Net Entertainment NE AB		674
	298,800	e	NET One Systems Co Ltd		3,766
	247,500		NetDragon Websoft, Inc		278
	202,056	*	Netscout Systems, Inc		5,154
	83,767	*	NetSuite, Inc		5,344

155

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	430,556	*	NeuStar, Inc (Class A)	$	17,235
	230,700	*	Nexon Co Ltd		3,185
	52,645		NHN Corp		13,721
	303,886		NIC, Inc		4,498
	56,394	*	Nice Systems Ltd		1,875
	75,900		Nihon Unisys Ltd		546
	31,800		NIIT Ltd		19
	17,491		NIIT Technologies Ltd		99
	132,064	e	Nintendo Co Ltd		16,775
	46,100		Nippon System Development Co Ltd		450
	278,802		Nomura Research Institute Ltd		5,746
	23,300	e	NS Solutions Corp		492
	1,961	e	NTT Data Corp		6,157
	778,759	*	Nuance Communications, Inc		19,383
	6,300		OBIC Business Consultants Ltd		357
	9,290		Obic Co Ltd		1,944
	93,026	*	Open Text Corp		5,130
	94,189	*,e	OpenTable, Inc		3,918
	206,287	e	Opera Software ASA		1,319
	55,367	e	Opnet Technologies, Inc		1,886
	20,769,916		Oracle Corp		654,046
	41,091		Oracle Corp Japan		2,116
	57,721		Otsuka Corp		5,162
	417,700		Pacific Online		127
	580,498	*	Parametric Technology Corp		12,655
	853,908		Paychex, Inc		28,427
	314,592		PC Home Online		1,778
	275,000		PCA Corp		3,524
	67,048	e	Pegasystems, Inc		1,947
	167,520	*	Perficient, Inc		2,022
	48,502	*	Pervasive Software, Inc		417
	482,396	e	Playtech Ltd		2,884
	96,454		POSDATA Co Ltd		617
	80,919	*,e	PRG-Schultz International, Inc		693
	293,836	*	Progress Software Corp		6,285
	23,224	*,e	Proofpoint, Inc		345
	78,492	*,e	PROS Holdings, Inc		1,497
	14,123		PSI AG. Gesellschaft Fuer Produkte und Systeme der Informationstechnologie		297
	31,976	*,e	QAD, Inc (Class A)		434
	433,874	*	QLIK Technologies, Inc		9,723
	275,571	*,m	Quest Software, Inc		7,717
	136,578	*,e	QuinStreet, Inc		1,146
	285,426	*	Rackspace Hosting, Inc		18,864
	83,105	e	RealNetworks, Inc		691
	130,416	*,e	RealPage, Inc		2,947
	1,323,129	*	Red Hat, Inc		75,339
	88,193		Redflex Holdings Ltd		184
	5,378		Reply S.p.A.		127
	220,434	*,e	Responsys, Inc		2,255
	20,509	*	Retalix Ltd		426
	131,891		Rolta India Ltd		181

156

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	37,284	*,e	Rosetta Stone, Inc	$	475
	260,716	*,e	Rovi Corp		3,783
	112,335	*,e	Saba Software, Inc		1,122
	2,207,885		Sage Group plc		11,188
	729,658		SAIC, Inc		8,785
	518,331	*	Salesforce.com, Inc		79,144
	1,623,400		Samart Corp PCL		564
	1,676,584		SAP AG.		119,312
	34,748	*,e	Sapiens International Corp NV		126
	450,374		Sapient Corp		4,801
	1,238,511	*	Satyam Computer Services Ltd		2,598
	20,016		SBSi Co Ltd		304
	94,077	*,e	Sciquest, Inc		1,712
	122,550		SDL plc		1,318
	110,498	*,e	Seachange International, Inc		867
	19,400	*	ServiceNow, Inc		750
	427,843	*,e	ServiceSource International LLC		4,390
	239,630		Shanghai Baosight Software Co Ltd		258
	9,479		SimCorp AS		2,017
	289		Simplex Technology, Inc		96
	30,625		SK C&C Co Ltd		2,738
	14,948	*	SK Communications Co Ltd		149
	87,475	e	SMS Management & Technology Ltd		569
	93,157		Software AG.		3,364
	108,540		Soft-World International Corp		224
	5,000	*,e	Sohu.com, Inc		210
	369,940	*	SolarWinds, Inc		20,620
	178,871		Solera Holdings, Inc		7,847
	583,936		Sonda S.A.		1,754
	157	e	So-net Entertainment Corp		1,123
	8,792		Sopra Group S.A.		418
	110,279	*	Sourcefire, Inc		5,407
	28,990	*,e	Spark Networks, Inc		177
	40,377	*,e,m	Splunk, Inc		1,483
	84,000		Springsoft, Inc		160
	38,700	*,e	SPS Commerce, Inc		1,489
	172,516	e	Square Enix Co Ltd		2,630
	168,965	*	SS&C Technologies Holdings, Inc		4,260
	51,929		Stamps.com, Inc		1,202
	81,670	e	Sumisho Computer Systems Corp		1,439
	640,000		SUNeVision Holdings Ltd		153
	195,719	*,e	SupportSoft, Inc		828
	3,232,923	*	Symantec Corp		58,193
	24,476	*	Synacor, Inc		186
	101,133	*,e	Synchronoss Technologies, Inc		2,316
	482,101	*	Synopsys, Inc		15,919
	80,880		Syntel, Inc		5,048
	471	e	Systena Corp		370
	356,000		Systex Corp		376
	289,288	*,e	TA Indigo Holding Corp		1,892
	844,328	*	Take-Two Interactive Software, Inc		8,806
	112,948	*	Tangoe, Inc		1,483

157

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	858,781		Tata Consultancy Services Ltd	$	21,073
	53,401	*,e	TechTarget, Inc		316
	197,400		Tecmo Koei Holdings Co Ltd		1,619
	898,379	e	Telecity Group plc		13,009
	65,503	*,e	TeleNav, Inc		391
	103,374	*	TeleTech Holdings, Inc		1,763
	95,326	*,e	Temenos Group AG.		1,432
	2,172,600	e	Tencent Holdings Ltd		73,556
	753,940	*	Teradata Corp		56,855
	3,275		Tessi S.A.		313
	528,982	*	TIBCO Software, Inc		15,991
	149,026	e	Tietoenator Oyj		2,578
	624,088	*	TiVo, Inc		6,509
	30,300		TKC		619
	94,658	*	TNS, Inc		1,415
	1,274,373		Total System Services, Inc		30,203
	145,300		Totvus S.A.		3,018
	59,257		TradeDoubler AB		126
	67,700	*	Trans Cosmos, Inc/Japan		863
	1,279,999		Travelsky Technology Ltd		678
	39,726	*,e	Travelzoo, Inc		936
	88,151	*	Trend Micro, Inc		2,458
	136,566	*	Tyler Technologies, Inc		6,012
	227,872	*	Ubisoft Entertainment		1,816
	101,249	*	Ultimate Software Group, Inc		10,338
	291,341	*	Unisys Corp		6,066
	48,472		Unit 4 Agresso NV		1,306
	26,819		United Internet AG.		547
	615,593		United Online, Inc		3,398
	351,359	*,e	Unwired Planet, Inc		675
	324,459	*	Valueclick, Inc		5,577
	292,722	*	Vantiv, Inc		6,308
	132,028	*	Vasco Data Security International		1,238
	349,722	*	VeriFone Systems, Inc		9,740
	78,192	*,e	Verint Systems, Inc		2,146
	1,028,831		VeriSign, Inc		50,094
	151,656	*,e	VirnetX Holding Corp		3,857
	68,793	*,e	Virtusa Corp		1,222
	2,268,738		Visa, Inc (Class A)		304,646
	299,095	*,e	VistaPrint Ltd		10,214
	820,403	*	VMware, Inc (Class A)		79,366
	87,280	*	Vocus, Inc		1,751
	250,362	*,e	WebMD Health Corp (Class A)		3,513
	154,198	*,e	Websense, Inc		2,413
	127,695	*	Website Pros, Inc		2,292
	17,589	*	Webzen, Inc		169
	20,612		WeMade Entertainment Co Ltd		963
	2,018,262		Western Union Co		36,773
	808,273		Wipro Ltd		5,822
	163,445		Wirecard AG.		3,761
	141,532	*,e	Wright Express Corp		9,868
	286,066	*	Xchanging plc		528

158

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	4,227		XING AG.	$	206
	32,179		Yahoo! Japan Corp		12,243
	4,104,742	*	Yahoo!, Inc		65,573
	70,811	*,e	Yandex NV		1,707
	31,285	*,e	Yelp, Inc		846
	299,600		YTL E-Solutions BHD		73
	261,994	*,e	Zix Corp		752
	324,433	*,e	Zynga, Inc		921
			TOTAL SOFTWARE & SERVICES		7,770,754
TECHNOLOGY HARDWARE & EQUIPMENT - 6.1%
	169,272	*,e	3D Systems Corp		5,561
	55,933	*	3S Korea Co Ltd		498
	61,400	*,e	5N Plus, Inc		133
	1,651,500		AAC Technologies Holdings, Inc		5,938
	816,000		Ability Enterprise Co Ltd		737
	1,047,292		Accton Technology Corp		563
	3,204,174		Acer, Inc		3,138
	15,320		Acme Electronics Corp		24
	145,257	*,e	Acme Packet, Inc		2,484
	232,000		A-DATA Technology Co Ltd		272
	280,370		Adlink Technology, Inc		305
	324,538	e	Adtran, Inc		5,608
	134,404	*	ADVA AG. Optical Networking		859
	358,775		Advantech Co Ltd		1,307
	109,186	*	Agilysys, Inc		939
	49,300	e	Ai Holdings Corp		320
	21,500		Aiphone Co Ltd		446
	1,890,026	*,e	Alcatel S.A.		2,085
	688,000		Alpha Networks, Inc		487
	339,700	e	Alps Electric Co Ltd		1,756
	7,099	*,e	Ambient Corp		37
	704,924		Amphenol Corp (Class A)		41,506
	2,513,949		AmTRAN Technology Co Ltd		1,967
	51,762	*	Anaren, Inc		1,035
	110,358		Anixter International, Inc		6,341
	300,000		Anritsu Corp		3,899
	388,000		APCB, Inc		294
	4,656,733		Apple, Inc		3,107,253
	459,266		Arcadyan Technology Corp		498
	29,841	*,e	Archos		131
	76,218		Arima Communications Corp		38
	497,866	*	Arris Group, Inc		6,368
	337,534	*	Arrow Electronics, Inc		11,378
	426,970	*,e	Aruba Networks, Inc		9,600
	33,812		Ascom Holding AG.		256
	347,808		Asia Vital Components Co Ltd		180
	174,000		ASROCK, Inc		626
	1,587,701		Asustek Computer, Inc		17,188
	118,000		Aten International Co Ltd		207
	8,780,853		AU Optronics Corp		3,140
	27,335	*,e	Audience, Inc		169

159

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	30,967		Austria Technologie & Systemtechnik AG.	$	333
	254,000		AV Tech Corp		787
	3,115,741		Avermedia Technologies		1,846
	108,782	*	Avid Technology, Inc		1,029
	340,228	*	Avnet, Inc		9,897
	111,791		AVX Corp		1,072
	27,235		Aware, Inc		172
	75,502	*,e	AX Holding Corp		501
	112,136	e	Axis Communications AB		2,781
	52,411	e	Badger Meter, Inc		1,907
	25,812		Barco NV		1,757
	59,672		Bel Fuse, Inc (Class B)		1,115
	305,770	*	Benchmark Electronics, Inc		4,669
	4,023,000		Benq Corp		910
	78,217	e	Black Box Corp		1,995
	256,927	*,e	Bookham, Inc		694
	310,879	*	Brightpoint, Inc		2,792
	2,732,000		Broad Intelligence International Pharmaceutical Holdings Ltd		546
	1,015,417	*	Brocade Communications Systems, Inc		6,006
	498,378	e	Brother Industries Ltd		4,616
	123,249	*,e	Bull S.A.		413
	1,975,000		BYD Electronic International Co Ltd		419
	164,521	*	CalAmp Corp		1,351
	1,889,400		CalComp Electronics Thailand PCL		167
	343,718	*,e	Calix Networks, Inc		2,200
	26,400	*	Canon Electronics, Inc		581
	1,871,625		Canon, Inc		60,076
	285,000		Career Technology Co Ltd		387
	714,853		Catcher Technology Co Ltd		3,349
	266,000		Catic Shenzhen Holdings Ltd		91
	349,285	*	Celestica, Inc		2,498
	37,029	*	Ceragon Networks Ltd		205
	94,328		Chang Wah Electromaterials, Inc		298
	155,999	*,e	Checkpoint Systems, Inc		1,292
	441,802		Cheng Uei Precision Industry Co Ltd		1,055
	54,000		Chenming Mold Industry Corp		57
	1,770,465		Chicony Electronics Co Ltd		4,153
	1,070,108		Chimei Materials Technology Corp		1,078
	3,714,000		China Aerospace International Holdings Ltd		262
	1,434,000	e	China All Access Holdings Ltd		224
	2,325,000	*	China ITS Holdings Co Ltd		304
	3,472,000	e	China Wireless Technologies Ltd		845
	1,517,000		Chin-Poon Industrial Co		1,789
	567,840		Chroma ATE, Inc		1,193
	2,513,000	*	Chunghwa Picture Tubes Ltd		73
	1,364,973	*,e	Ciena Corp		18,564
	27,230,918		Cisco Systems, Inc		519,838
	387,384		Citizen Watch Co Ltd		1,958
	521,212		Clevo Co		769
	2,783,000	*	CMC Magnetics Corp		472
	178,600	*,e	CMK Corp		612

160

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	215,321		Cognex Corp	$	7,446
	109,222	*	Coherent, Inc		5,009
	1,280,299	e	Comba Telecom Systems Holdings Ltd		427
	469,000		Compal Communications, Inc		509
	5,902,648		Compal Electronics, Inc		5,289
	778,000		Compeq Manufacturing Co		350
	73,073		Comtech Telecommunications Corp		2,020
	800,219	*	Comverse Technology, Inc		4,921
	2,179,000		Coretronic Corp		2,075
	5,268,794		Corning, Inc		69,284
	201,000		Coxon Precise Industrial Co Ltd		370
	133,553	*	Cray, Inc		1,696
	16,824	*	CrucialTec Co Ltd		165
	127,854	e	CTS Corp		1,287
	75,000		CyberPower Systems, Inc		145
	315,000		CyberTAN Technology, Inc		253
	132,620		Daeduck Electronics Co		1,269
	16,040		Daeduck GDS Co Ltd		202
	7,800	e	Dai-ichi Seiko Co Ltd		103
	613,000		Daiwabo Co Ltd		1,151
	131,939		Daktronics, Inc		1,255
	266,000		Darfon Electronics Corp		198
	92,955	*,e	Datalink Corp		770
	309,143		DataTec Ltd		1,956
	487,416		Daxon Technology, Inc		200
	492,000		DBA Telecommunication Asia Holdings Ltd		276
	3,289,652		Dell, Inc		32,436
	1,296,700		Delta Electronics Thai PCL		1,085
	3,910,964		Delta Electronics, Inc		15,087
	82,000		Denki Kogyo Co Ltd		362
	78,389	e	Dialight plc		1,522
	78,803		Diebold, Inc		2,656
	106,897	*,e	Digi International, Inc		1,086
	1,958,000	e	Digital China Holdings Ltd		3,107
	9,063	*	Digital Multimedia Technologies S.p.A.		227
	7,173	*	Digitech Systems Co Ltd		72
	262,737		Diploma plc		2,019
	744,000		D-Link Corp		454
	150,368	*,e	Dolby Laboratories, Inc (Class A)		4,925
	68,612	*	DTS, Inc		1,597
	320,900		Eastern Communications Co Ltd		116
	133,794	*,e	Echelon Corp		514
	91,079	*	EchoStar Corp (Class A)		2,610
	36,071		Eizo Nanao Corp		642
	88,173	e	Electro Rent Corp		1,560
	142,237		Electro Scientific Industries, Inc		1,738
	816,215		Electrocomponents plc		2,643
	194,784	*	Electronics for Imaging, Inc		3,235
	1,034,938		Elite Material Co Ltd		1,084
	4,479,000		Elitegroup Computer Systems Co Ltd		1,490
	288,300	*	Eltek ASA		198
	11,359,952	*	EMC Corp		309,786

161

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	360,155	*	Emulex Corp	$	2,597
	12,700		Enplas Corp		438
	168,900		Entire Technology Co Ltd		276
	3,134,045		Ericsson (LM) (B Shares)		28,586
	32,407		Esprinet S.p.A.		134
	364,970		Everlight Electronics Co Ltd		587
	20,929		EVS Broadcast Equipment S.A.		1,156
	31,663	*	Exfo Electro Optical Engineering, Inc		157
	335,390	*	Extreme Networks, Inc		1,120
	616,121	*	F5 Networks, Inc		64,508
	81,182	*,e	Fabrinet		941
	61,658	*,e	FARO Technologies, Inc		2,548
	111,000	*,e	FDK Corp		97
	141,698		FEI Co		7,581
	367,475	*,e	Finisar Corp		5,255
	130,810		Firich Enterprises Co Ltd		168
	186,913		FLEXium Interconnect, Inc		742
	218,610		Flir Systems, Inc		4,367
	244,397		Flytech Technology Co Ltd		538
	7,314,462	*,e	Foxconn International Holdings Ltd		2,399
	1,266,478		Foxconn Technology Co Ltd		4,903
	1,786,082		Fuji Folms Holdings Corp		29,914
	2,447,146		Fujitsu Ltd		9,187
	222,438		Fulltech Fiber Glass Corp		125
	28,700		Furuno Electric Co Ltd		113
	243,324	*,e	Fusion-io, Inc		7,365
	247,153		G Tech Optoelectronics Corp		761
	173,494		Gemalto NV		15,259
	384,913		Gemtek Technology Corp		408
	95,139		GeoVision, Inc		376
	319,000		Getac Technology Corp		228
	20,000	*	Giantplus Technology Co Ltd		7
	1,627,000		Gigabyte Technology Co Ltd		1,482
	228,986		Gigastorage Corp		176
	40,103	*	Gilat Satellite Networks Ltd		157
	737,613		Global Brands Manufacture Ltd		292
	92,056	*,e	Globecomm Systems, Inc		1,026
	492,000		Gold Circuit Electronics Ltd		116
	532,000		Great Wall Technology Co Ltd		98
	141,388	*	GSI Group, Inc		1,260
	31,398		Hakuto Co Ltd		288
	891,251		Halma plc		6,111
	19,334	e	Hamamatsu Photonics KK		664
	1,023,838		Hannstar Board Corp		549
	3,693,000	*	HannStar Display Corp		370
	492,628	*	Harmonic, Inc		2,237
	388,302		Harris Corp		19,889
	277,839	*	Harris Stratex Networks, Inc (Class A)		661
	9,341,574		Hewlett-Packard Co		159,367
	40,491		Hexagon AB (B Shares)		871
	1,086,889		High Tech Computer Corp		10,496
	2,372,008	*	Himachal Futuristic Communications		504

162

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	9,100		Hioki EE Corp	$	157
	323,000		Hi-P International Ltd		272
	29,166	e	Hirose Electric Co Ltd		3,265
	28,430		Hitachi High-Technologies Corp		686
	357,000		Hitachi Kokusai Electric, Inc		2,363
	20,483,737	e	Hitachi Ltd		113,747
	616,000		Holystone Enterprise Co Ltd		542
	16,399,915		Hon Hai Precision Industry Co, Ltd		51,349
	46,695		Horiba Ltd		1,377
	80,900	e	Hosiden Corp		451
	341,320	*	Hoya Corp		7,488
	55,090		Humax Co Ltd		493
	112,333	*,e	Ibiden Co Ltd		1,643
	155,000	*	Ichia Technologies, Inc		81
	236,000		I-Chiun Precision Industry Co Ltd		173
	10,700		Icom, Inc		258
	62,000		ICP Electronics, Inc		114
	134,100	*	IdeiasNet S.A.		111
	27,360		Iljin Materials Co Ltd		276
	123,560	*	Imation Corp		691
	113,725	*,e	Immersion Corp		622
	3,913		Inficon Holding AG.		827
	390,695	*,e	Infinera Corp		2,141
	404,000		Infortrend Technology, Inc		272
	53,718		Ingenico		2,761
	184,268	*	Ingram Micro, Inc (Class A)		2,806
	6,469,739	*	InnoLux Display Corp		2,343
	193,596	*	Insight Enterprises, Inc		3,384
	4,345,000		Inspur International Ltd		121
	165,617	e	InterDigital, Inc		6,174
	7,059		Interflex Co Ltd		423
	277,208	*,e	Intermec, Inc		1,721
	92,804	*,e	Intevac, Inc		567
	25,234		INTOPS Co Ltd		447
	241,238	*,e	InvenSense, Inc		2,883
	5,330,423		Inventec Co Ltd		2,103
	81,081	*,e	IPG Photonics Corp		4,646
	682,357		ITEQ Corp		696
	91,527	*	Itron, Inc		3,949
	21,751		Ituran Location and Control Ltd		255
	152,320	*	Ixia		2,448
	39,159		J Touch Corp		39
	1,070,961		Jabil Circuit, Inc		20,048
	288,000		Japan Aviation Electronics Industry Ltd		2,416
	29,400		Japan Cash Machine Co Ltd		273
	49,500		Japan Digital Laboratory Co Ltd		540
	55,535	*,e	Japan Radio Co Ltd		136
	2,518,900		JCY International BHD		641
	3,272,493	*,e	JDS Uniphase Corp		40,530
	100,765		Jenoptik AG.		765
	62,700		Jentech Precision Industrial Co Ltd		172
	153,528	*	Jess-Link Products Co Ltd		141

163

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	2,614,000	e	Ju Teng International Holdings Ltd	$	1,089
	2,507,756	*	Juniper Networks, Inc		42,908
	27,600		Kaga Electronics Co Ltd		269
	7,429		Kapsch TrafficCom AG.		475
	187,037	*	Kemet Corp		823
	36,598	*	Key Tronic Corp		363
	30,086		Keyence Corp		7,704
	1,114,700	e	Kingboard Chemical Holdings Ltd		2,660
	286,000		Kingboard Laminates Holdings Ltd		118
	2,318,000		Kinpo Electronics		548
	42,000	e	Koa Corp		357
	996,850	e	Konica Minolta Holdings, Inc		7,668
	46,641		Kudelski S.A.		526
	59,337	*	KVH Industries, Inc		800
	505,000		KYE Systems Corp		181
	163,144	e	Kyocera Corp		14,136
	368,632		Laird Group plc		1,342
	327,462		Largan Precision Co Ltd		6,734
	1,243		LEM Holding S.A.		626
	15,598,300	e	Lenovo Group Ltd		12,859
	358,618	e	Lexmark International, Inc (Class A)		7,979
	10,900		LG Innotek Co Ltd		789
	347,152		LG.Philips LCD Co Ltd		8,785
	1,259,314		LITE-ON IT Corp		1,163
	5,015,462		Lite-On Technology Corp		6,460
	111,000	e	Littelfuse, Inc		6,276
	394,510	e	Logitech International S.A.		3,625
	58,227		Loral Space & Communications, Inc		4,140
	69,000		Lotes Co Ltd		216
	370,975		Lumax International Corp Ltd		766
	19,000		Macnica, Inc		396
	145,000		Marubun Corp		619
	7,300	e	Maruwa Co Ltd		232
	102,784	*,e	Maxwell Technologies, Inc		835
	55,282	*,e	Measurement Specialties, Inc		1,823
	37,600	*,e	Meiko Electronics Co		292
	12,100	e	Melco Holdings, Inc		235
	124,063	*	Mercury Computer Systems, Inc		1,318
	11,589		Mesa Laboratories, Inc		561
	136,455		Methode Electronics, Inc		1,325
	78,824	*,e	Micronic Laser Systems AB		124
	2,799,000		Micro-Star International Co Ltd		1,369
	172,000		MIN AIK Technology Co Ltd		532
	2,096,000		Mitac International		807
	1,000		Mitsui Knowledge Industry Co Ltd		171
	111,500		Mitsumi Electric Co Ltd		595
	446,820	e	Molex, Inc		11,742
	811,973		Motorola, Inc		41,045
	58,751	e	MTS Systems Corp		3,146
	35,871	*	Multi-Fineline Electronix, Inc		809
	339,969		Murata Manufacturing Co Ltd		18,099
	149,850		Nan Ya Printed Circuit Board Corp		244

164

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	458,000		Nanjing Panda Electronics	$	100
	136,120		National Instruments Corp		3,426
	296,182	*	NCR Corp		6,904
	1,231,382	*	NEC Corp		1,954
	20,900	e	NEC Mobiling Ltd		824
	84,377	*,e	Neonode, Inc		318
	67,431	e	Neopost S.A.		3,730
	1,560,326	*	NetApp, Inc		51,304
	157,901	*	Netgear, Inc		6,022
	76,000		Newmax Technology Co Ltd		108
	186,388	*	Newport Corp		2,061
	68,026	e	Nichicon Corp		480
	24,200		Nidec Copal Electronics Corp		131
	52,000		Nidec Sankyo Corp		257
	53,800	e	Nihon Dempa Kogyo Co Ltd		604
	19,800		Nippon Ceramic Co Ltd		250
	183,000	*,e	Nippon Chemi-Con Corp		306
	1,337,604	e	Nippon Electric Glass Co Ltd		7,371
	31,000	e	Nohmi Bosai Ltd		202
	3,471,015	e	Nokia Oyj		9,008
	39,334		Nolato AB (B Shares)		419
	19,850		Nortel Networks Netas Telekomunikasyon AS		128
	40,166	*,e	Numerex Corp		455
	229,905	*,e	OCZ Technology Group, Inc		798
	997,000	*,e	Oki Electric Industry Co Ltd		1,143
	789,553		Omron Corp		15,172
	1,240,000	e	O-Net Communications Group		285
	73,572	*,e	Oplink Communications, Inc		1,217
	34,000		Osaki Electric Co Ltd		203
	107,516	*	OSI Systems, Inc		8,369
	378,873		Pace plc		975
	16,244	*,e	Palo Alto Networks, Inc		1,000
	806,990		Pan-International Industrial		803
	75,228	e	Park Electrochemical Corp		1,868
	279,241	*,e	Parkervision, Inc		653
	17,447	*	Parrot S.A.		549
	41,009		Partron Co Ltd		498
	188,000	*	PAX Global Technology Ltd		34
	34,875		PC Connection, Inc		401
	67,803		PC-Tel, Inc		478
	1,969,217		Pegatron Technology Corp		2,551
	99,000		Pinnacle Technology Holdings Ltd		214
	197,038		Plantronics, Inc		6,961
	217,124	*	Plexus Corp		6,577
	398,821	*	Polycom, Inc		3,936
	21,100		Positivo Informatica S.A.		53
	421,759	*,e	Power-One, Inc		2,362
	510,657		Premier Farnell plc		1,423
	925,000		Prime View International Co Ltd		1,004
	70,956	*	Procera Networks, Inc		1,667
	481,000	*	PT Erajaya Swasembada Tbk		105
	520,445	*	QLogic Corp		5,943

165

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	8,516,956		Qualcomm, Inc	$	532,224
	3,285,532		Quanta Computer, Inc		8,711
	427,000		Quanta Storage, Inc		307
	1,248,693	*,e	Quantum Corp		2,010
	128,007	*,e	Rackable Systems, Inc		1,165
	83,112	*	Radisys Corp		299
	154,410	*,e	RealD, Inc		1,380
	37,087		Redington India Ltd		55
	85,513		Renishaw plc		2,286
	29,200	*,e	Research In Motion Ltd (Canada)		223
	52,430		Richardson Electronics Ltd		622
	548,228	e	Ricoh Co Ltd		4,630
	21,000		Riso Kagaku Corp		369
	3,588,000	*	Ritek Corp		475
	405,269	*	Riverbed Technology, Inc		9,431
	104,099	*,e	Rofin-Sinar Technologies, Inc		2,054
	58,610	*,e	Rogers Corp		2,483
	11,200		Roland DG Corp		133
	40,400	e	Ryosan Co Ltd		724
	32,700		Ryoyo Electro Corp		343
	32,150		Sam Young Electronics Co Ltd		257
	126,319		Samsung Electro-Mechanics Co Ltd		10,887
	44,184		Samsung SDI Co Ltd		6,249
	1,769,839	*	SanDisk Corp		76,864
	158,413	*	Sandvine Corp		193
	432,651	*,e	Sanmina-SCI Corp		3,673
	33,200		Sanshin Electronics Co Ltd		249
	6,022	*	Sapphire Technology Co Ltd		244
	109,098	*,e	Scansource, Inc		3,493
	465,770	e	Seagate Technology, Inc		14,439
	201,960	e	Seiko Epson Corp		1,233
	402,000		Senao International Co Ltd		1,488
	735,000		Sercomm Corp		1,117
	36,421		SFA Engineering Corp		1,483
	308,800		Shanghai Potevio Co Ltd		157
	133,100	*	Shijiazhuang Baoshi Electronic Glass Co Ltd		89
	68,289	e	Shimadzu Corp		479
	41,400		Shinko Shoji Co Ltd		372
	228,091	*,e	ShoreTel, Inc		933
	64,711	*	Sierra Wireless, Inc		506
	18,600		Siix Corp		271
	1,576,000	e	SIM Technology Group Ltd		87
	344,012		Simplo Technology Co Ltd		2,053
	678,000		Sinbon Electronics Co Ltd		596
	15,658		Sindoh Co Ltd		980
	1,242,000	*	Sintek Photronic Corp		474
	248,000		Sirtec International Co Ltd		290
	86,000		SMK Corp		237
	7,363		SNU Precision Co Ltd		36
	873,470	*,e	Sonus Networks, Inc		1,642
	185,722		Spectris plc		5,191
	1,445,326		Spirent Communications plc		3,619

166

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	53,100		Star Micronics Co Ltd	$	510
	154,809	*,e	STEC, Inc		1,045
	360,310		Sterlite Technologies Ltd		214
	76,334	*,e	Stratasys, Inc		4,153
	238,000		Sunrex Technology Corp		107
	105,457	*	Super Micro Computer, Inc		1,269
	14,356		Suprema, Inc		236
	656,686	*	SVA Electron Co Ltd		208
	73,097		Sycamore Networks, Inc		1,126
	174,381	*	Symmetricom, Inc		1,215
	123,622	*,e	Synaptics, Inc		2,969
	480,000		Syncmold Enterprise Corp		864
	95,361	*	SYNNEX Corp		3,107
	1,564,023		Synnex Technology International Corp		3,534
	165,972		Taiflex Scientific Co Ltd		206
	275,891		Taiwan PCB Techvest Co Ltd		384
	132,803	e	Taiyo Yuden Co Ltd		1,118
	82,000	e	Tamura Corp		194
	1,850,000		TCL Communication Technology Holdings Ltd		667
	127,376	e	TDK Corp		4,737
	65,708	*	Tech Data Corp		2,977
	750,000	*	Tech Pro Technology Development Ltd		289
	6,181	e	Technitrol, Inc		5
	1,533,507		Tellabs, Inc		5,429
	62,057	e	Telular Corp		614
	29,091		Tessco Technologies, Inc		616
	574,618		Test Research, Inc		912
	251,000		Thinking Electronic Industrial Co Ltd		248
	69,234		TKH Group NV		1,445
	107,000	*,e	Toko, Inc		272
	151,625		Tong Hsing Electronic Industries Ltd		505
	81,100	e	Topcon Corp		436
	1,785		Topoint Technology Co Ltd		1
	14,545,371	e	Toshiba Corp		46,618
	490,000		Toshiba TEC Corp		2,166
	35,900		Toyo Corp/Chuo-ku		390
	598,688		TPK Holding Co Ltd		7,825
	2,558,000	e	Tpv Technology Ltd		560
	513,767	*	Trimble Navigation Ltd		24,486
	499,832		Tripod Technology Corp		1,222
	2,496,000		Truly International Holdings		372
	265,530		TT electronics plc		617
	196,717	*	TTM Technologies, Inc		1,855
	512,039		TXC Corp		855
	38,292	*,e	Ubiquiti Networks, Inc		456
	13,164		U-Blox AG.		592
	211,200		Uchi Technologies BHD		81
	15,742		Uju Electronics Co Ltd		348
	83,000	*	Uniden Corp		176
	1,390,756		Unimicron Technology Corp		1,650
	253,937		Unitech Printed Circuit Board Corp		91
	143,953	*,e	Universal Display Corp		4,949

167

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	375,795		Venture Corp Ltd	$	2,460
	139,686	*,e	Viasat, Inc		5,221
	11,639	*,e	Viasystems Group, Inc		201
	1,029,975	*	Vishay Intertechnology, Inc		10,125
	47,377	*	Vishay Precision Group, Inc		662
	35,186		Vivotek, Inc		115
	1,362,000		VST Holdings Ltd		250
	219,800	e	Vtech Holdings Ltd		2,688
	478	e	Wacom Co Ltd		1,157
	44,042		Wah Hong Industrial Corp		71
	1,759,767		Wah Lee Industrial Corp		2,342
	476,769		Walsin Technology Corp		123
	1,292,000		Wasion Group Holdings Ltd		465
	637,350		Weikeng Industrial Co Ltd		466
	198,508	*,e	Westell Technologies, Inc		425
	1,606,746		Western Digital Corp		62,229
	142,800		Wi-Lan, Inc		803
	42,020		Wincor Nixdorf AG.		1,647
	1,893,962		Wintek Corp		985
	2,641,270		Wistron Corp		3,163
	692,301		Wistron NeWeb Corp		1,283
	6,523,283		WPG Holdings Co Ltd		8,658
	743,278		WT Microelectronics Co Ltd		930
	308,000	*	WUS Printed Circuit Co Ltd		145
	4,004,700		Xerox Corp		29,394
	15,750	*,b,m	Ya Hsin Industrial Co Ltd		0^
	2,213,000		Yageo Corp		671
	81,293		Yamatake Corp		1,630
	181,203	e	Yaskawa Electric Corp		1,209
	463,085		Yokogawa Electric Corp		5,345
	141,000		Young Fast Optoelectronics Co Ltd		339
	62,727	*,e	Zebra Technologies Corp (Class A)		2,355
	997,650		Zhen Ding Technology Holding Ltd		3,128
	229,000		Zinwell Corp		229
	839,147	e	ZTE Corp		1,339
	104,444	*,e	Zygo Corp		1,910
	788,000		Zyxel Communications		385
			TOTAL TECHNOLOGY HARDWARE & EQUIPMENT		6,504,310
TELECOMMUNICATION SERVICES - 3.3%
	12,152	*	012 Smile.Communications Ltd		57
	259,307	*,e	8x8, Inc		1,701
	2,557,500		Advanced Info Service PCL		17,761
	155,879	f	AFK Sistema (GDR) (purchased 03/30/07, cost $2,638)		3,183
	80,865	e	Allied Technologies Ltd		423
	65,598,260		America Movil S.A. de C.V. (Series L)		83,783
	22,241,086		AT&T, Inc		838,488
	33,113		Atlantic Tele-Network, Inc		1,423
	550,833	*,e	Avanti Communications Group plc		3,107
	1,308,000	*	Axtel SAB de CV		324
	497,806	e	BCE, Inc		21,900
	301,700		Belgacom S.A.		9,206

168

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	144,692	e	Bell Aliant Regional Communications Income Fund	$	4,017
	3,169,491		Bezeq Israeli Telecommunication Corp Ltd		3,703
	1,840,198		Bharti Airtel Ltd		9,250
	57,799	*,e	Boingo Wireless, Inc		459
	17,239,520		BT Group plc		64,264
	3,439,228		Cable & Wireless plc		2,005
	100,763	*,e	Cbeyond Communications, Inc		994
	69,526		Cellcom Israel Ltd		597
	2,362,527		CenturyTel, Inc		95,446
	5,062,921	e	China Communications Services Corp Ltd		2,919
	9,394,390		China Mobile Hong Kong Ltd		104,145
	20,779,889		China Telecom Corp Ltd		12,008
	14,951,601	e	China Unicom Ltd		24,365
	509,933		Chorus Ltd		1,370
	4,865,337		Chunghwa Telecom Co Ltd		15,543
	744,574	*,e	Cincinnati Bell, Inc		4,244
	1,320,000		Citic 1616 Holdings Ltd		263
	3,282,000	*	Citic 21CN Co Ltd		166
	436,000		City Telecom (HK) Ltd		103
	610,387	*,e	Clearwire Corp (Class A)		824
	167,547		Cogent Communications Group, Inc		3,852
	559,538	*	Colt Telecom Group S.A.		1,077
	220,154	e	Consolidated Communications Holdings, Inc		3,784
	1,116,318	*	Crown Castle International Corp		71,556
	5,111,713		Deutsche Telekom AG.		62,863
	6,165,200		Digi.Com BHD		10,627
	100,236		Drillisch AG.		1,217
	7,643	e	eAccess Ltd		1,469
	23,708		Elisa Oyj (Series A)		536
	172,374		Empresa Nacional de Telecomunicaciones S.A.		3,592
	82,041	*,e	Fairpoint Communications, Inc		620
	6,323,019		Far EasTone Telecommunications Co Ltd		15,603
	3,345,608	e	France Telecom S.A.		40,514
	290,785	e	Freenet AG.		4,751
	2,153,100	e	Frontier Communications Corp		10,550
	144,529	*,e	General Communication, Inc (Class A)		1,416
	102,900		Globe Telecom, Inc		2,853
	26,528	*,e	Hawaiian Telcom Holdco, Inc		470
	303,920		Hellenic Telecommunications Organization S.A.		1,136
	59,950		HickoryTech Corp		634
	244,959	e	HKT Trust and HKT Ltd		208
	7,340,651		Hutchison Telecommunications Hong Kong Holdings Ltd		3,239
	232,981	*	Idea Cellular Ltd		376
	136,719		IDT Corp (Class B)		1,404
	172,388		iiNET Ltd		658
	16,848	e	Iliad S.A.		2,742
	163,332	*	inContact, Inc		1,065
	77,299		Inmarsat plc		738
	171,063	*,e	Iridium Communications, Inc		1,252
	12,324,600		Jasmine International PCL		1,550
	279,401	*	Jazztel plc		1,667
	1,188,015		Kcom Group plc		1,577

169

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	335,300	e	KDDI Corp	$	26,007
	184,022		KT Corp		5,813
	245,290	*,e	Leap Wireless International, Inc		1,673
	4,540,420	*	Level 3 Communications, Inc		104,293
	366,446		LG Telecom Ltd		2,391
	57,838	e	Lumos Networks Corp		455
	122,177	e	M2 Telecommunications Group Ltd		438
	926,944		Magyar Telekom		1,780
	253,702	*	Mahanagar Telephone Nigam		155
	76,800		Manitoba Telecom Services, Inc		2,637
	188,885		Maroc Telecom		2,248
	2,439,300		Maxis BHD		5,518
	700,930	*	MetroPCS Communications, Inc		8,208
	41,598		Millicom International Cellular S.A.		3,860
	808,852		Mobile TeleSystems (ADR)		14,171
	508,809		MobileOne Ltd		1,140
	5,369		Mobistar S.A.		169
	3,232,336		MTN Group Ltd		62,401
	781,847	*	Netia S.A.		1,500
	136,471	*	Neutral Tandem, Inc		1,280
	379,347	*,e	NII Holdings, Inc (Class B)		2,978
	997,889		Nippon Telegraph & Telephone Corp		47,480
	108,588	e	NTELOS Holdings Corp		1,886
	9,928	e	NTT DoCoMo, Inc		16,040
	627,382		Oi S.A.		3,070
	2,067,289		Oi S.A.(Pref)		8,311
	3,534,686	*	Orascom Telecom Holding SAE		2,191
	131,249	*	Orbcomm, Inc		491
	108,076		Partner Communications		570
	9,073,161		PCCW Ltd		3,699
	59,012		Philippine Long Distance Telephone Co		3,937
	1,123,365		Portugal Telecom SGPS S.A.		5,551
	227,497	*,e	Premiere Global Services, Inc		2,127
	63,763	e	Primus Telecommunications Group, Inc		974
	6,352,000		PT Excelcomindo Pratama		4,397
	1,284,676		PT Indosat Tbk		723
	21,147,021		PT Telekomunikasi Indonesia Tbk (Series B)		20,758
	109,837		QSC AG.		299
	848,815		Reliance Communication Ventures Ltd		1,041
	478,992	e	Rogers Communications, Inc (Class B)		19,392
	335,704	e	Rostelecom (ADR)		8,524
	930,427		Royal KPN NV		7,083
	2,018,200	*	SBA Communications Corp (Class A)		126,945
	91,895		Shenandoah Telecom Co		1,617
	7,749,773		Singapore Telecommunications Ltd		20,180
	288,459	*	SK Broadband Co Ltd		984
	36,141		SK Telecom Co Ltd		4,747
	1,320,389	e	SmarTone Telecommunications Holding Ltd		2,622
	1,284,493	*	Softbank Corp		51,934
	267,811		Sonaecom - SGPS S.A.		475
	12,067,774	*	Sprint Nextel Corp		66,614
	779,321	e	StarHub Ltd		2,358

170

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	13,773		Swisscom AG.	$	5,545
	3,485,443		Taiwan Mobile Co Ltd		12,710
	1,623,836	e	TalkTalk Telecom Group plc		4,867
	924,890	*	Tata Teleservices Maharashtra Ltd		206
	2,692,039		TDC AS		19,642
	169,764		Tele2 AB (B Shares)		3,083
	5,750,217		Telecom Corp of New Zealand Ltd		11,321
	434,272		Telecom Egypt		1,035
	6,505,758		Telecom Italia RSP		5,699
	7,623,295		Telecom Italia S.p.A.		7,658
	695,617		Telefonica Brasil S.A.		15,197
	165,800	e	Telefonica O2 Czech Republic AS		3,352
	3,592,729		Telefonica S.A.		48,019
	39,037		Telekom Austria AG.		276
	1,493,300		Telekom Malaysia BHD		3,020
	1,006,229		Telekomunikacja Polska S.A.		5,167
	46,115		Telenet Group Holding NV		2,062
	1,067,542		Telenor ASA		20,836
	340,446		Telephone & Data Systems, Inc		8,719
	3,024,637		TeliaSonera AB		21,764
	192,672		Telkom S.A. Ltd		410
	11,305,686		Telstra Corp Ltd		45,833
	234,111	e	TELUS Corp, non-voting shares		14,645
	398,400	*	Thaicom PCL		245
	1,181,408		Tim Participacoes S.A.		4,563
	754,720		Time dotCom BHD		764
	4,500,700		TM International BHD		9,557
	300,000		Total Access Communication PCL		900
	120,000		Total Access Communication PCL (NVDR)		360
	5,228,500		Tower Bersama Infrastructure		2,428
	159,885	*,e	Towerstream Corp		649
	768,805	e	TPG Telecom Ltd		1,769
	4,425,822	*	True Corp PCL		875
	90,567		Tulip Telecom Ltd		78
	726,215		Turk Telekomunikasyon AS		2,893
	1,643,773		Turkcell Iletisim Hizmet AS		10,025
	3,571,714	*	tw telecom inc (Class A)		93,115
	18,169	*,e	US Cellular Corp		711
	87,754		USA Mobility, Inc		1,042
	12,162,785		Verizon Communications, Inc		554,258
	1,029,823		Vivendi Universal S.A.		20,068
	504,470		Vodacom Group Pty Ltd		6,190
	60,614,200		Vodafone Group plc		172,244
	1,166,871	e	Vodafone Group plc (ADR)		33,250
	834,342	*	Vonage Holdings Corp		1,902
	802,731	e	Windstream Corp		8,116
	465,162		Ziggo NV		15,814
			TOTAL TELECOMMUNICATION SERVICES		3,472,654
TRANSPORTATION - 2.0%
	417,882		Abertis Infraestructuras S.A.		6,159
	57,221		Aeroports de Paris		4,563

171

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	53,088	*	Air Berlin plc	$	108
	12,690,600	e	Air China Ltd		7,935
	178,969	*	Air France-KLM		1,158
	623,899		Air New Zealand Ltd		600
	198,727	*,e	Air Transport Services Group, Inc		874
	1,494,100		AirAsia BHD		1,473
	379,418	*,e	Alaska Air Group, Inc		13,302
	571,552		All America Latina Logistica S.A.		2,363
	5,769,324	e	All Nippon Airways Co Ltd		12,127
	54,374	*	Allegiant Travel Co		3,445
	50,652	e	Amerco, Inc		5,387
	624,000		Anhui Expressway Co		268
	131,616		Ansaldo STS S.p.A.		1,079
	1,047		AP Moller - Maersk AS (Class A)		7,079
	1,500		AP Moller - Maersk AS (Class B)		10,724
	146,637		Arkansas Best Corp		1,161
	816,905		Asciano Group		3,682
	165,040	*	Asiana Airlines		1,024
	95,590	*	Atlas Air Worldwide Holdings, Inc		4,935
	1,351,579		Auckland International Airport Ltd		2,933
	1,331,921		Australian Infrastructure Fund		4,159
	109,977		Autostrada Torino-Milano S.p.A.		997
	593,789		Autostrade S.p.A.		9,235
	385,539	*	Avis Budget Group, Inc		5,930
	989,200		Bangkok Expressway PCL		948
	331,000	*	Bangkok Metro PCL		7
	689,251		BBA Aviation plc		2,203
	10,547,600		Beijing Capital International Airport Co Ltd		7,045
	1,042,128	*	Brockman Mining Ltd		63
	3,389,072		BTS Group Holdings PCL		621
	1,009,948	e	Canadian National Railway Co		89,366
	158,664		Canadian Pacific Railway Ltd		13,152
	674,010	e	Canadian Pacific Railway Ltd (Toronto)		55,938
	1,524,773		Cathay Pacific Airways Ltd		2,468
	240,240		Cebu Air, Inc		312
	136,877		Celadon Group, Inc		2,200
	14,613		Celebi Hava Servisi		162
	325,600		Central Japan Railway Co		28,580
	598,625		CH Robinson Worldwide, Inc		35,049
	3,186,337		China Airlines		1,328
	1,742,930	e	China Merchants Holdings International Co Ltd		5,342
	5,158,800	*,e	China Shipping Container Lines Co Ltd		1,042
	1,813,300	e	China Shipping Development Co Ltd		749
	7,302,000	e	China Southern Airlines Co Ltd		3,193
	254,000		Chinese Maritime Transport Ltd		304
	1,605,448		Cia de Concessoes Rodoviarias		14,531
	16,369		Clarkson plc		345
	2,605,631		ComfortDelgro Corp Ltd		3,635
	26,408		Compagnie Maritime Belge S.A.		467
	8,170,245		Compania SudAmericana de Vapores S.A.		817
	89,850		Con-Way, Inc		2,459
	140,296		Copa Holdings S.A. (Class A)		11,402

172

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	3,602,975	e	COSCO Holdings	$	1,463
	3,830,540		COSCO Pacific Ltd		5,329
	360,433		Costamare, Inc		5,547
	6,390,741		CSX Corp		132,607
	462,000		CWT Ltd		480
	30,517		D/S Norden		811
	173,000	*,e	Daiichi Chuo Kisen Kaisha		135
	892,050		Dazhong Transportation Group Co Ltd		424
	3,396,717	*	Delta Air Lines, Inc		31,115
	212,009		Deutsche Lufthansa AG.		2,877
	1,877,444		Deutsche Post AG.		36,678
	6,580		Dfds AS		317
	109,707	*,e	Dollar Thrifty Automotive Group, Inc		9,537
	173,251		DSV AS		3,889
	672,125		East Japan Railway Co		44,471
	515,520		easyJet plc		4,845
	54,447	*,e	Echo Global Logistics, Inc		934
	225,834		EcoRodovias Infraestrutura e Logistica S.A.		1,966
	4,135,572		Eva Airways Corp		2,420
	294,000		Evergreen International Storage & Transport Corp		200
	2,032,522		Evergreen Marine Corp Tawain Ltd		1,068
	321,212		Expeditors International Washington, Inc		11,679
	1,795,138		FedEx Corp		151,906
	806,970		Firstgroup plc		3,128
	15,194	e	Flughafen Wien AG.		704
	8,711		Flughafen Zuerich AG.		3,575
	157,314		Forward Air Corp		4,784
	33,752		Fraport AG. Frankfurt Airport Services Worldwide		1,953
	315,528		Freightways Ltd		1,094
	331,000	e	Fukuyama Transporting Co Ltd		1,834
	6,917		Gateway Distriparks Ltd		19
	642,491	*	Gemina S.p.A.		628
	105,796	*,e	Genco Shipping & Trading Ltd		389
	158,478	*,e	Genesee & Wyoming, Inc (Class A)		10,596
	169,870	f	Globaltrans Investment plc (GDR) (purchased 07/05/10, cost $2,928)		3,530
	18,704		GLOVIS Co Ltd		4,080
	88,589		Go-Ahead Group plc		1,881
	2,142,206		Gol Linhas Aereas Inteligentes S.A.		12,226
	433,000		Golden Ocean Group Ltd		309
	819,717	e	Grindrod Ltd		1,399
	450,363		Groupe Eurotunnel S.A.		3,172
	19,300	*	Grupo Aeromexico SAB de C.V.		30
	205,100	e	Grupo Aeroportuario del Centro Norte Sab de C.V.		461
	872,091	e	Grupo Aeroportuario del Pacifico S.A. de C.V. (B Shares)		3,676
	646,500	e	Grupo Aeroportuario del Sureste S.A. de C.V. (Class B)		5,712
	303,560		Guangdong Provincial Expressway Development Co Ltd		90
	1,214,000	e	GZI Transportation Ltd		574
	132,000		Hainan Meilan International Airport Co Ltd		81
	44,279	e	Hamburger Hafen und Logistik AG.		1,150
	119,890		Hanjin Shipping Co Ltd		1,445

173

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	22,140		Hanjin Shipping Holdings Co Ltd	$	143
	4,330		Hanjin Transportation Co Ltd		79
	1,178,000	*	Hankyu Hanshin Holdings, Inc		6,362
	189,391	*,e	Hawaiian Holdings, Inc		1,059
	264,703		Heartland Express, Inc		3,536
	5,133,788	*	Hertz Global Holdings, Inc		70,487
	68,300	e	Hitachi Transport System Ltd		1,144
	7,585		Hopewell Highway Infrastructure Ltd		4
	141,848	*,e	Hub Group, Inc (Class A)		4,210
	5,339,294		Hutchison Port Holdings Trust		3,857
	49,520		Hyundai Merchant Marine Co Ltd		1,184
	107,757	e	Iino Kaiun Kaisha Ltd		369
	1,055,466	*	International Consolidated Airlines		2,541
	1,811,140		International Container Term Services, Inc		3,053
	19,967		International Shipholding Corp		337
	20,753		Irish Continental Group plc		476
	579,657		J.B. Hunt Transport Services, Inc		30,165
	21,000	*	Japan Airlines Co Ltd		982
	52,855		Japan Airport Terminal Co Ltd		627
	200,802	*	Jet Airways India Ltd		1,312
	859,351	*,e	JetBlue Airways Corp		4,116
	2,010,000	e	Jiangsu Express		1,659
	166,000		Jinzhou Port Co Ltd		57
	99,500		Julio Simoes Logistica S.A.		539
	498,083		Kamigumi Co Ltd		4,116
	665,113		Kansas City Southern Industries, Inc		50,402
	1,311,438	*,e	Kawasaki Kisen Kaisha Ltd		1,648
	417,963	e	Keihin Electric Express Railway Co Ltd		3,937
	482,104	e	Keio Corp		3,633
	418,128		Keisei Electric Railway Co Ltd		3,772
	1,383,487	e	Kintetsu Corp		5,418
	19,200	e	Kintetsu World Express, Inc		614
	138,232	*	Kirby Corp		7,641
	210,912		Knight Transportation, Inc		3,016
	103,157		Koninklijke Vopak NV		7,237
	47,054		Korean Air Lines Co Ltd		2,002
	46,887		Kuehne & Nagel International AG.		5,306
	547,626		Lan Airlines S.A.		13,889
	154,544		Landstar System, Inc		7,307
	393,700	*	LLX Logistica S.A.		559
	169,692		Localiza Rent A Car		2,980
	42,200	*	Log-in Logistica Intermodal S.A.		131
	515,893	*	Macquarie Atlas Roads Group		778
	140,907		Mainfreight Ltd		1,184
	318,800		Malaysia Airports Holdings BHD		580
	344,500	*	Malaysian Airline System BHD		114
	246,800		Malaysian Bulk Carriers BHD		111
	104,616		Marten Transport Ltd		1,838
	102,000		Maruzen Showa Unyu Co Ltd		336
	95,421		Matson, Inc		1,995
	540,183		Mermaid Marine Australia Ltd		1,732
	1,110,900		MISC BHD		1,541

174

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	99,556		Mitsubishi Logistics Corp	$	1,183
	884,358	e	Mitsui OSK Lines Ltd		2,057
	123,610		Mitsui-Soko Co Ltd		421
	2,446,608		MTR Corp		9,249
	458,550		Mundra Port and Special Economic Zone Ltd		1,105
	581,710		National Express Group plc		1,972
	1,015,658	e	Neptune Orient Lines Ltd		931
	1,210,134		Nippon Express Co Ltd		4,584
	139,600		Nippon Konpo Unyu Soko Co Ltd		1,806
	2,188,606	e	Nippon Yusen Kabushiki Kaisha		3,866
	150,000		Nissin Corp		396
	706,353		Norfolk Southern Corp		44,945
	210,443		Northgate plc		818
	27,912	*	Norwegian Air Shuttle AS		525
	490,900		Obrascon Huarte Lain Brasil S.A.		4,504
	542,763	e	Odakyu Electric Railway Co Ltd		5,704
	78,288		Oesterreichische Post AG.		2,802
	586,746	*	Old Dominion Freight Line		17,696
	194,976		Orient Overseas International Ltd		1,069
	129,835	*,e	Pacer International, Inc		517
	2,203,290		Pacific Basin Shipping Ltd		1,005
	18,886		Panalpina Welttransport Holding AG.		1,806
	33,235	*	Park-Ohio Holdings Corp		720
	27,530	*	Patriot Transportation Holding, Inc		768
	654,700		Pos Malaysia & Services Holdings BHD		665
	550,600		Precious Shipping PCL		236
	12,753,500	*,m	PT Berlian Laju Tanker Tbk		0^
	392,000		PT Citra Marga Nusaphala Persada Tbk		87
	17,298,500	*	PT Garuda Indonesia Tbk		1,118
	5,676,500		PT Jasa Marga Tbk		3,462
	7,139,000		PT Trada Maritime Tbk		573
	1,665,090	*	Qantas Airways Ltd		2,095
	2,067,836		QR National Ltd		7,280
	71,381	*,e	Quality Distribution, Inc		660
	565,506		Qube Logistics Holdings Ltd		865
	110,028	*,e	RailAmerica, Inc		3,022
	65,673	*,e	Rand Logistics, Inc		495
	179,512	*,e	Republic Airways Holdings, Inc		831
	479,000		Road King Infrastructure		343
	74,532	*	Roadrunner Transportation Services Holdings, Inc		1,206
	46,434	*	Ryanair Holdings plc		264
	19,896	*,e	Ryanair Holdings plc (ADR)		642
	110,629		Ryder System, Inc		4,321
	618,000	e	Sagami Railway Co Ltd		2,071
	88,202	*	Saia, Inc		1,776
	96	*,m	SAir Group		0^
	388,000		Sankyu, Inc		1,465
	135,400		Santos Brasil Participacoes S.A.		1,937
	232,067	*,e	SAS AB		263
	20,200		Sebang Co Ltd		291
	396,287	e	Seino Holdings Corp		2,509
	251,000		Senko Co Ltd		1,090

175

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	499,600		Shandong Airlines Co Ltd	$	551
	310,560	m	Shanghai Jinjiang International Investment Holdings Co		216
	141,400	m	Shenzhen Chiwan Petroleum		158
	259,100	m	Shenzhen Chiwan Wharf Holdings Ltd		303
	876,000	e	Shenzhen Expressway Co Ltd		316
	22,047,500		Shenzhen International Holdings		1,502
	77,000	e	Shibusawa Warehouse Co Ltd		224
	438,000		Shih Wei Navigation Co Ltd		380
	118,000	*	Shinwa Kaiun Kaisha Ltd		124
	1,886,500	e	Shun TAK Holdings Ltd		726
	480,000		Sincere Navigation		419
	520,905	e	Singapore Airlines Ltd		4,546
	1,473,000		Singapore Airport Terminal Services Ltd		3,213
	1,880,419		Singapore Post Ltd		1,677
	2,662,000		Sinotrans Ltd		346
	2,700,000	e	Sinotrans Shipping Ltd		606
	2,077,000		SITC International Co Ltd		496
	38,219		Sixt AG.		740
	35,748		Sixt AG. (Preference)		566
	125,327	*	Skymark Airlines, Inc		622
	262,381		Skywest, Inc		2,710
	1,186,048	e	SMRT Corp Ltd		1,618
	11,065,075	*	Sociedad Matriz SAAM S.A.		1,190
	167,800		Societa Iniziative Autostradali e Servizi S.p.A.		1,348
	1,981,459		Southwest Airlines Co		17,378
	3,165,355	*	SpiceJet Ltd		2,220
	222,361	*	Spirit Airlines, Inc		3,798
	1,002,600		Stagecoach Group plc		4,552
	443,997	e	Stobart Group Ltd		846
	51,449		Stolt-Nielsen S.A.		983
	73,400	*,e	Student Transportation, Inc		499
	134,590		STX Pan Ocean Co Ltd		447
	291,767		Sumitomo Warehouse Co Ltd		1,340
	450,423	*	Swift Transportation Co, Inc		3,883
	1,764,793		Sydney Airport		5,776
	516,000		T.Join Transportation Co		733
	214,000		Taiwan Navigation Co Ltd		185
	874,261		TAV Havalimanlari Holding AS		4,332
	55,000		Tegma Gestao Logistica		908
	1,114,200		Thai Airways International PCL		784
	69,700		Thoresen Thai Agencies PCL		37
	415,500	*	Tianjin Marine Shipping Co Ltd		106
	5,414,000		Tianjin Port Development Holdings Ltd		577
	580,000	*,e	Tiger Airways Holdings Ltd		355
	263,226		TNT Express NV		2,747
	524,566		TNT NV		1,825
	845,534	e	Tobu Railway Co Ltd		4,550
	1,283,170		Tokyu Corp		6,129
	676,821	e	Toll Holdings Ltd		3,078
	53,200		TPI-Triunfo Participacoes e Investimentos S.A.		291
	181,930	f	TransContainer OAO (GDR) (purchased 03/30/11, cost $1,942)		2,274

176

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	177,340	e	TransForce, Inc	$	3,139
	1,089,176		Transurban Group		6,753
	2,197,352	*	Turk Hava Yollari		4,603
	2,747,751	*,e	UAL Corp		53,582
	1,279,300		U-Ming Marine Transport Corp		2,041
	2,854,154		Union Pacific Corp		338,787
	2,700,381		United Parcel Service, Inc (Class B)		193,267
	31,077		Universal Truckload Services, Inc		496
	626,210	*,e	US Airways Group, Inc		6,550
	581,392		UTI Worldwide, Inc		7,831
	67,336	*	Virgin Australia Holdings Ltd		28
	67,336	*,m	Virgin Australia Int Holdings		0^
	11,668		VTG AG.		186
	51,507	*,e	Vueling Airlines S.A.		317
	905,057		Wan Hai Lines Ltd		506
	155,021	e	Werner Enterprises, Inc		3,313
	90,605	*,e	Wesco Aircraft Holdings, Inc		1,238
	462,892		West Japan Railway Co		19,768
	429,550		Wisdom Marine Lines Co Ltd		585
	5,872,000		Xiamen International Port Co Ltd		589
	64,498	*,e	XPO Logistics, Inc		789
	339,257	e	Yamato Transport Co Ltd		5,366
	1,423,415		Yang Ming Marine Transport		591
	54,300		Yusen Air & Sea Service Co Ltd		494
	4,488,000		Zhejiang Expressway Co Ltd		3,120
	86,059	*,e	Zipcar, Inc		670
			TOTAL TRANSPORTATION		2,087,616
UTILITIES - 3.3%
	1,610,254	e	A2A S.p.A.		798
	5,188,831		Aboitiz Power Corp		4,170
	20,935		Acciona S.A.		1,193
	964,506	e	ACEA S.p.A.		5,778
	200,231		Actelios S.p.A.		251
	1,587,004	*	AES Corp		17,409
	3,748,688		AES Gener S.A.		2,271
	252,244		AES Tiete S.A.		2,837
	348,364	*,m	AET&D Holdings No 1 Ptd Ltd		0^
	438,688		AGL Energy Ltd		6,797
	144,383		AGL Resources, Inc		5,907
	2,157,976		Aguas Andinas S.A.		1,448
	42,810	*	Akenerji Elektrik Uretim AS		48
	22,453		Alerion Industries S.p.A.		113
	327,703	e	Algonquin Power & Utilities Corp		2,223
	158,501		Allete, Inc		6,616
	460,575		Alliant Energy Corp		19,984
	588,150		Ameren Corp		19,215
	61,141	*,e	American DG Energy, Inc		158
	1,273,174		American Electric Power Co, Inc		55,943
	130,419		American States Water Co		5,795
	1,322,373		American Water Works Co, Inc		49,007
	722,323	e	APA Group		3,543

177

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	170,101	e	Aqua America, Inc	$	4,212
	32,469	e	Artesian Resources Corp		754
	83,177		Ascopiave S.p.A.		143
	97,339	e	Atco Ltd		7,624
	415,778	e	Atlantic Power Corp		6,220
	154,934	e	Atlantic Power Corp (Toronto)		2,320
	111,204		Atmos Energy Corp		3,980
	303,313		Avista Corp		7,807
	1,579,580	*	Babcock & Brown Wind Partners		430
	5,004,000	e	Beijing Enterprises Water Group Ltd		1,189
	72,135	*	BF Utilities Ltd		551
	2,324,000	*	Binhai Investment Co Ltd		120
	19,553		BKW S.A.		722
	157,295		Black Hills Corp		5,595
	45,395	*	Boralex, Inc		403
	60,971	*,e	Cadiz, Inc		592
	212,174		California Water Service Group		3,957
	6,318,480	*	Calpine Corp		109,310
	147,765	e	Canadian Utilities Ltd		10,324
	98,600		Capital Power Corp		2,135
	7,620,623		Centerpoint Energy, Inc		162,318
	906,641		Centrais Eletricas Brasileiras S.A.		5,411
	740,624		Centrais Eletricas Brasileiras S.A. (Preference)		6,660
	16,900		Centrais Eletricas de Santa Catarina S.A.		287
	11,387,959		Centrica plc		60,261
	84,664		CESC Ltd		531
	384,529		CEZ AS		14,348
	55,559	e	CH Energy Group, Inc		3,623
	244,853	e	Challenger Infrastructure Fund		348
	50,739		Chesapeake Utilities Corp		2,403
	984,791		Cheung Kong Infrastructure Holdings Ltd		5,955
	4,542,000		China Gas Holdings Ltd		2,482
	3,136,000		China Longyuan Power Group Corp		2,055
	5,300,000	*	China Oil and Gas Group Ltd		564
	7,328,000	e	China Power International Development Ltd		1,998
	8,540,000	*	China Power New Energy Development Co Ltd		322
	1,022,000	e	China Resources Gas Group Ltd		2,081
	2,956,599		China Resources Power Holdings Co		6,466
	2,302,000	e	China Water Affairs Group Ltd		640
	4,540,000	e	China WindPower Group Ltd		116
	1,022,942		Chubu Electric Power Co, Inc		13,283
	265,291	e	Chugoku Electric Power Co, Inc		3,526
	159,773		Cia de Saneamento Basico do Estado de Sao Paulo		6,541
	80,400		Cia de Saneamento de Minas Gerais-COPASA		1,828
	61,245		Cia de Transmissao de Energia Electrica Paulista		1,138
	835,186		Cia Energetica de Minas Gerais		10,126
	387,671		Cia Energetica de Sao Paulo (Class B)		4,140
	65,400		Cia Energetica do Ceara		1,178
	297,419		Cia Paranaense de Energia		4,856
	233,322		Cleco Corp		9,795
	1,647,383		CLP Holdings Ltd		13,983
	1,166,020		CMS Energy Corp		27,460

178

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	11,613,071		Colbun S.A.	$	3,275
	34,236		Connecticut Water Service, Inc		1,092
	419,827	e	Consolidated Edison, Inc		25,143
	62,438		Consolidated Water Co, Inc		516
	2,613,206	*,e	Contact Energy Ltd		11,433
	356,840		CPFL Energia S.A.		3,941
	12,562,000	e	Datang International Power Generation Co Ltd		4,203
	25,541	e	Delta Natural Gas Co, Inc		494
	1,534,769		Dominion Resources, Inc		81,251
	1,367,137		Drax Group plc		11,193
	802,712		DTE Energy Co		48,115
	2,059,525	e	DUET Group		4,347
	3,629,736		Duke Energy Corp		235,208
	4,626,211		E.ON AG.		109,931
	9,160		E1 Corp		502
	4,267,066		Edison International		194,963
	385,901		EDP - Energias do Brasil S.A.		2,450
	215,938		El Paso Electric Co		7,396
	99,841	e	Electric Power Development Co		2,629
	153,900		Electricite de France		3,218
	310,500		Electricity Generating PCL		1,309
	154,552		Eletropaulo Metropolitana de Sao Paulo S.A.		1,502
	55,118		Elia System Operator S.A.		2,255
	243,448		Empire District Electric Co		5,246
	843,999		Empresa Electrica del Norte Grande S.A.		2,061
	5,172,122		Empresa Nacional de Electricidad S.A.		8,368
	776,939		Enagas		15,321
	376,314		Endesa S.A.		7,236
	226,611		Enea S.A.		1,157
	1,446,888		Enel Green Power S.p.A		2,451
	13,259,294		Enel S.p.A.		46,973
	565,273		Energias de Portugal S.A.		1,553
	1,024,060	*,e	Energy World Corp Ltd		422
	18,348,360		Enersis S.A.		5,993
	246,806		Entergy Corp		17,104
	2,346,100		Envestra Ltd		2,196
	1,344,639	e	Epure International Ltd		583
	196,100		Equatorial Energia S.A.		1,732
	48,270		EVN AG.		672
	3,215,383		Exelon Corp		114,403
	425,000	f	Federal Grid Co Unified Energy System JSC (ADR) (purchased 03/07/12, cost $2,488)		1,594
	2,298,200	*	First Gen Corp		1,101
	782,760		First Philippine Holdings Corp		1,482
	1,878,726		FirstEnergy Corp		82,852
	233,895	e	Fortis, Inc		7,977
	547,861		Fortum Oyj		10,094
	604,549		GAIL India Ltd		4,379
	1,020,032		Gas Natural SDG S.A.		14,434
	1,726,030	e	Gaz de France		38,477
	88,405		Genie Energy Ltd		634
	631,000		Glow Energy PCL		1,355

179

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	169,497		Great Plains Energy, Inc	$	3,773
	140,000		Great Taipei Gas Co Ltd		102
	42,390	*	Greentech Energy Systems		94
	7,320,000	e	Guangdong Investments Ltd		5,783
	2,770		Gujarat Gas Co Ltd		18
	194,239		Gujarat State Petronet Ltd		297
	2,353,042	*	GVK Power & Infrastructure Ltd		651
	558,645	e	Hastings Diversified Utilities Fund		1,507
	160,612		Hawaiian Electric Industries, Inc		4,226
	992,785		Hera S.p.A.		1,603
	500,095	e	Hokkaido Electric Power Co, Inc		4,059
	272,573	e	Hokuriku Electric Power Co		3,304
	5,444,854		Hong Kong & China Gas Ltd		13,764
	2,809,788		Hong Kong Electric Holdings Ltd		23,858
	1,137,130	*	Huadian Energy Co Ltd		255
	7,844,000	e	Huaneng Power International, Inc		5,947
	723,000	e	Hyflux Ltd		825
	6,600,247		Iberdrola S.A.		29,926
	206,679	e	Idacorp, Inc		8,943
	60,000	*	IDGC Holding JSC (ADR)		917
	1,032,309	*	Indiabulls Infrastructure and Power Ltd		126
	30,672		Indraprastha Gas Ltd		154
	1,143,235	e	Infratil Ltd		2,050
	156,051		Innergex Renewable Energy, Inc		1,722
	142,126		Integrys Energy Group, Inc		7,419
	511,751		Interconexion Electrica S.A.		2,707
	711,107		Inversiones Aguas Metropolitanas S.A.		1,287
	554,950		Iride S.p.A.		317
	604,000		Isagen S.A. ESP		822
	75,413	e	ITC Holdings Corp		5,700
	246,472	e	Just Energy Income Fund		2,690
	1,079,371	e	Kansai Electric Power Co, Inc		8,419
	8,877		Korea District Heating Corp		551
	325,870	*	Korea Electric Power Corp		8,182
	31,142		Korea Gas Corp		1,998
	344,999		Kyushu Electric Power Co, Inc		2,845
	82,412		Laclede Group, Inc		3,544
	93,500		Light S.A.		1,084
	78,100		Macquarie Power & Infrastructure Income Fund		352
	260,400	*	Magma Energy Corp		138
	530,437		Manila Electric Co		3,242
	1,761,200		Manila Water Co, Inc		1,141
	338,074		MDU Resources Group, Inc		7,451
	83,503	e	MGE Energy, Inc		4,425
	58,559	e	Middlesex Water Co		1,122
	273,000	*	MPX Energia S.A.		1,454
	128,710		National Fuel Gas Co		6,955
	8,915,175		National Grid plc		98,342
	153,286		New Jersey Resources Corp		7,008
	1,733,726		NextEra Energy, Inc		121,933
	1,775,107		NiSource, Inc		45,230
	1,556,850		Northeast Utilities		59,518

180

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	93,859	e	Northland Power Income Fund	$	1,818
	98,160		Northwest Natural Gas Co		4,833
	194,933		NorthWestern Corp		7,062
	1,282,368	e	NRG Energy, Inc		27,430
	1,311,332		NTPC Ltd		4,180
	1,088,028		NV Energy, Inc		19,595
	55,379		Oest Elektrizitatswirts AG. (Class A)		1,147
	1,236,295		OGE Energy Corp		68,565
	106,400		Okinawa Electric Power Co, Inc		3,554
	596,610		Oneok, Inc		28,822
	63,141	e	Ormat Technologies, Inc		1,184
	4,291,506	e	Osaka Gas Co Ltd		18,882
	130,186	e	Otter Tail Corp		3,106
	567,414		Pennon Group plc		6,627
	279,691	e	Pepco Holdings, Inc		5,286
	822,400		Petronas Gas BHD		5,103
	1,169,284		PG&E Corp		49,893
	293,157		Piedmont Natural Gas Co, Inc		9,522
	654,808		Pinnacle West Capital Corp		34,574
	414,595		PNM Resources, Inc		8,719
	10,134,850		PNOC Energy Development Corp		1,478
	1,039,260		Polska Grupa Energetyczna S.A.		6,001
	371,083		Portland General Electric Co		10,034
	2,000,146		Power Grid Corp of India Ltd		4,565
	1,484,491		PPL Corp		43,124
	27,008,000		PT Perusahaan Gas Negara		11,608
	387,827		PTC India Ltd		520
	153,669		Public Power Corp		721
	980,666		Public Service Enterprise Group, Inc		31,558
	690,200	*	Puncak Niaga Holding BHD		297
	7,260		Pusan City Gas Co Ltd		142
	371,166		Questar Corp		7,546
	2,104,500		Ratchaburi Electricity Generating Holding PCL		3,317
	18,663		Red Electrica de Espana		885
	245,107		Redes Energeticas Nacionais S.A.		633
	180,294		Reliance Energy Ltd		1,831
	803,361	*	Reliance Power Ltd		1,493
	5,722,777	*,e	RRI Energy, Inc		14,479
	64,143		Rubis		3,765
	1,495,557		RusHydro (ADR)		3,991
	578,339		RWE AG.		25,880
	299	e	RWE AG. (Preference)		12
	9,368		Samchully Co Ltd		835
	347,283	e	SCANA Corp		16,763
	160,306		Scottish & Southern Energy plc		3,607
	39,413	e	Sechilienne-Sidec		621
	822,387		Sempra Energy		53,036
	282,636		Severn Trent plc		7,664
	192,150	e	Shikoku Electric Power Co, Inc		2,166
	116,000		Shizuoka Gas Co Ltd		849
	50,304	e	SJW Corp		1,276
	513,088	e	Snam Rete Gas S.p.A.		2,276

181

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	111,993		South Jersey Industries, Inc	$	5,928
	3,223,411		Southern Co		148,567
	231,919		Southwest Gas Corp		10,251
	2,201,927		SP AusNet		2,387
	3,395,547	f	Spark Infrastructure Group (purchased 05/29/09, cost $4,073)		5,729
	226,340		Suez Environnement S.A.		2,560
	1,214,450		Taiwan Cogeneration Corp		801
	1,443,502		Tata Power Co Ltd		2,923
	1,419,621		Tauron Polska Energia S.A.		2,170
	264,539		TECO Energy, Inc		4,693
	115,230		Telecom Plus plc		1,575
	4,523,418		Tenaga Nasional BHD		10,056
	93,062		Terna Energy S.A.		242
	222,801		Terna Rete Elettrica Nazionale S.p.A.		831
	4,535,500		Thai Tap Water Supply PCL		1,119
	487,208	e	Toho Gas Co Ltd		3,233
	367,898	*	Tohoku Electric Power Co, Inc		2,957
	1,416,806	*,e	Tokyo Electric Power Co, Inc		2,332
	5,869,285		Tokyo Gas Co Ltd		32,275
	1,176,000		Towngas China Co Ltd		870
	237,720		Tractebel Energia S.A.		3,752
	354,820	e	TransAlta Corp		5,432
	170,004		UGI Corp		5,398
	188,241		UIL Holdings Corp		6,750
	919,648		United Utilities Group plc		10,632
	54,308		Unitil Corp		1,478
	201,408		UNS Energy Corp		8,431
	179,222	e	Utilities Select Sector SPDR Fund		6,524
	77,800		Valener, Inc		1,268
	429,546		Vector Ltd		1,014
	99,058		Vectren Corp		2,833
	272,627		Veolia Environnement		2,933
	445,595	e	Westar Energy, Inc		13,216
	187,048		WGL Holdings, Inc		7,529
	595,794		Wisconsin Energy Corp		22,444
	4,502,744		Xcel Energy, Inc		124,771
	3,118,000		Xinao Gas Holdings Ltd		13,092
	1,090		YESCO Co Ltd		29
	51,441	e	York Water Co		943
	7,456,782		YTL Corp BHD		4,181
	4,718,690		YTL Power International BHD		2,557
	1,453,400		Zhejiang Southeast Electric Power Co (Class B)		759
	629,253	*	Zorlu Enerji Elektrik Uretim AS		368
			TOTAL UTILITIES		3,491,319
			TOTAL COMMON STOCKS		105,252,851
			(Cost $93,815,494)

182

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
PREFERRED STOCKS - 0.1%
DIVERSIFIED FINANCIALS - 0.0%
	319,300		Daishin Securities Co Ltd Pref 2	$	1,728
			TOTAL DIVERSIFIED FINANCIALS		1,728
FOOD, BEVERAGE & TOBACCO - 0.1%
	1,434,496	*	Ambev Cia De Bebidas Das		54,974
			TOTAL FOOD, BEVERAGE & TOBACCO		54,974
REAL ESTATE - 0.0%
	8,497,223	*,m	Ayala Land, Inc (Preferred B)		20
			TOTAL REAL ESTATE		20
			TOTAL PREFERRED STOCKS		56,722
			(Cost $37,072)
RIGHTS / WARRANTS - 0.0%
BANKS - 0.0%
	615,526		CaixaBank		51
	1,019,900	m	Krung Thai Bank PCL		188
			TOTAL BANKS		239
CAPITAL GOODS - 0.0%
	251,892		Access Engineering Ltd		43
	92,930		Brookfield Incorporacoes S.A.		39
	23,425		Gamuda Berhad		7
	4,000		IJM Corp BHD - Warrants		2
	497,119		YTL Corp Bhd		47
			TOTAL CAPITAL GOODS		138
CONSUMER SERVICES - 0.0%
	158,733	m	Raffles Education Corp Ltd		29
			TOTAL CONSUMER SERVICES		29
ENERGY - 0.0%
	89,971		Cie Generale de Geophysique-Veritas		145
	123,722		Etablissements Maurel et Prom CW14		39
	96,000		Kinder Morgan, Inc		335
	45,556	e,m	Magnum Hunter Resources Corp		0	^
			TOTAL ENERGY		519
FOOD, BEVERAGE & TOBACCO - 0.0%
	249,814		John Keells Holdings plc		442
			TOTAL FOOD, BEVERAGE & TOBACCO		442
HEALTH CARE EQUIPMENT & SERVICES - 0.0%
	60,780		Hartalega Holdings BHD		23
			TOTAL HEALTH CARE EQUIPMENT & SERVICES		23
INSURANCE - 0.0%
	415		Bajaj Finserv Ltd		1
			TOTAL INSURANCE		1
MATERIALS - 0.0%
	343,126		G Steel PCL		0	^
	1,558		Kinross Gold Corp		1
			TOTAL MATERIALS		1

183

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	RATE	MATURITY DATE	VALUE (000)
PHARMACEUTICALS, BIOTECHNOLOGY & LIFE SCIENCES - 0.0%
	588,021		Allos Therapeutics, Inc			$	12
			TOTAL PHARMACEUTICALS, BIOTECHNOLOGY & LIFE SCIENCES				12
REAL ESTATE - 0.0%
	782,112	m	Aspen Group				0	^
	240,670		Citycon OYJ				30
	4,761,352	m	GPT Group				0	^
	66,140		IJM Land BHD - CW13				17
	24,524	m	Nieuwe Steen Investments NV				0	^
	164,600		Ticon Industrial Connection PCL				15
			TOTAL REAL ESTATE				62
RETAILING - 0.0%
	16,061,910		Empresas La Polar S.A.				367
	12,126	e	Liberty Ventures				164
			TOTAL RETAILING				531
SOFTWARE & SERVICES - 0.0%
	48,248	m	Myriad Group AG.				0	^
			TOTAL SOFTWARE & SERVICES				0	^
			TOTAL RIGHTS / WARRANTS				1,997
			(Cost $1,157)

PRINCIPAL		ISSUER
SHORT-TERM INVESTMENTS - 5.7%
GOVERNMENT AGENCY DEBT - 0.1%
$	30,000,000	Federal Home Loan Bank (FHLB)	0.001	%	10/01/12	30,000
	48,500,000	FHLB	0.135		12/14/12	48,496
		TOTAL GOVERNMENT AGENCY DEBT				78,496
TREASURY DEBT - 0.3%
	23,300,000	United States Treasury Bill	0.048		10/04/12	23,300
	15,600,000	United States Treasury Bill	0.076		10/11/12	15,600
	30,900,000	United States Treasury Bill	0.073		10/18/12	30,899
	77,500,000	United States Treasury Bill	0.041-0.095		10/25/12	77,496
	5,200,000	United States Treasury Bill	0.095		11/01/12	5,200
	11,700,000	United States Treasury Bill	0.054-0.090		11/15/12	11,699
	51,200,000	United States Treasury Bill	0.075-0.095		11/29/12	51,195
	67,100,000	United States Treasury Bill	0.091-0.095		12/06/12	67,089
	38,270,000	United States Treasury Bill	0.080		12/13/12	38,264
	15,000,000	United States Treasury Bill	0.068		01/17/13	14,997
		TOTAL TREASURY DEBT				335,739

184

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

PRINCIPAL			ISSUER	RATE		MATURITY DATE	VALUE (000)
INVESTMENT OF CASH COLLATERAL FOR SECURITIES LOANED - 5.3%
REPURCHASE AGREEMENTS - 5.0%
	250,000,000	o	Bank of Nova Scotia	0.210	%	10/01/12	$	250,000
	875,000,000	p	Barclays Capital	0.150-0.200		10/01/12		875,000
	123,000,000	q	BNP	0.170		10/01/12		123,000
	609,000,000	r	Calyon	0.170		10/01/12		609,000
	60,000,000	s	Citigroup	0.210		10/01/12		60,000
	885,000,000	t	CSFB	0.200-0.230		10/01/12		885,000
	104,000,000	u	Deutsche Bank	0.150		10/01/12		104,000
	350,000,000	v	HSBC	0.120-0.200		10/01/12		350,000
	800,824,000	w	Merrill Lynch	0.150-0.170		10/01/12		800,824
	248,000,000	x	Morgan Stanley	0.200		10/01/12		248,000
	670,000,000	y	Royal Bank of Scotland	0.200		10/01/12		670,000
	300,000,000	z	UBS Warburg	0.170		10/01/12		300,000
			TOTAL REPURCHASE AGREEMENTS					5,274,824
VARIABLE RATE SECURITY - 0.3%
	58,000,000	i	American Express Credit Account Master	0.520		10/15/12		58,000
	14,993,731	i	Granite Master Issuer plc 2006	0.540		12/20/50		14,671
	11,855,508	i	Granite Master Issuer plc 2007	0.570		12/20/50		11,601
	6,575,234	i	Medallion Trust Series 2005	0.590		08/22/36		6,437
	13,543,188	i	Nelnet Student Loan Trust 2007	0.620		09/25/18		13,533
	13,226,200	i	Puma Global Mortgage Backed Trust	0.610		02/21/38		12,766
	170,000,000	i	SLM Student Loan Trust 2007	0.640		01/25/19		167,417
	30,196,400	i	SLM Student Loan Trust 2008	0.800		10/25/16		30,111
			TOTAL VARIABLE RATE SECURITY					314,536
			TOTAL INVESTMENT OF CASH COLLATERAL FOR SECURITIES LOANED					5,589,360
			TOTAL SHORT-TERM INVESTMENTS					6,003,595
			(Cost $6,006,217)
			TOTAL INVESTMENTS - 105.2%					111,320,941
			(Cost $99,864,592)
			OTHER ASSETS & LIABILITIES, NET - (5.2)%					(5,479,334)
			NET ASSETS - 100.0%				$	105,841,607
			Abbreviation(s):
	ADR		American Depositary Receipt
	ETF		Exchange Traded Fund
	GDR		Global Depositary Receipt
	NVDR		Non Voting Depository Receipt
	REIT		Real Estate Investment Trust
	SPDR		Standard & Poor’s Depository Receipts
	*		Non-income producing.
	^		Amount represents less than $1,000.
	a		Affiliated holding.
	b		In bankruptcy
	e		All or a portion of these securities are out on loan. The aggregate value of securities on loan is $5,325,197,000.
	f		Restricted security. At 9/30/2012, the aggregate value of these securities amounted to $174,464,000 or 0.2% of net assets.
	g		Security is exempt from registration under Rule 144(A) of the Securities Act of 1933 and may be resold in transactions exempt from registration to qualified institutional buyers. At September 30, 2012 the aggregate value of these securities amounted to $1,162,000 or 0.0% of net assets.

185

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

i	Floating or variable rate security. Coupon rate reflects the rate at period end.
j	Zero coupon
m	Indicates a security that has been deemed illiquid.
o	Agreement with Bank of Nova Scotia, 0.21% dated 9/28/12 to be repurchased at $250,005,000 on 10/01/12, collateralized by U.S. Treasury Securities valued at $255,005,000.
p	Agreement with Barclays Capital, 0.15%-0.20% dated 9/28/12 to be repurchased at $875,015,000 on 10/01/12, collateralized by U.S. Treasury Securities valued at $892,500,000.
q	Agreement with BNP, 0.17% dated 09/28/12 to be repurchased at $123,002,000 on 10/01/12, collateralized by U.S. Treasury Securities valued at $125,460,000.
r	Agreement with Calyon, 0.17% dated 09/28/12 to be repurchased at $609,009,000 on 10/01/12, collateralized by U.S. Treasury Securities valued at $621,180,000.
s	Agreement with Citigroup, 0.21% dated 09/28/12 to be repurchased at $60,001,000 on 10/01/12, collateralized by U.S. Treasury Securities valued at $61,200,000.
t	Agreement with CSFB, 0.20-0.23% dated 09/28/12 to be repurchased at $885,016,000 on 10/01/12, collateralized by U.S. Treasury Securities valued at $902,701,000.
u	Agreement with Deutsche Bank, 0.15% dated 09/28/12 to be repurchased at $104,001,000 on 10/01/12, collateralized by U.S. Treasury Securities valued at $106,080,000.
v	Agreement with HSBC, 0.12-0.20% dated 09/28/12 to be repurchased at $350,005,000 on 10/01/12, collateralized by U.S. Treasury Securities valued at $357,001,000.
w	Agreement with Merrill Lynch, 0.15-0.17% dated 09/28/12 to be repurchased at $800,835,000 on 10/01/12, collateralized by U.S. Treasury Securities valued at $816,841,000.
x	Agreement with Morgan Stanley, 0.20% dated 09/28/12 to be repurchased at $248,004,000 on 10/01/12, collateralized by U.S. Treasury Securities valued at $252,960,000.
y	Agreement with Royal Bank of Scotland, 0.20% dated 09/28/12 to be repurchased at $670,011,000 on 10/01/12, collateralized by U.S. Treasury Securities valued at $683,404,000.
z	Agreement with UBS Warburg, 0.17% dated 09/28/12 to be repurchased at $300,004,000 on 10/01/12, collateralized by U.S. Treasury Securities valued at $306,000,000.
	Cost amounts are in thousands.

186

COLLEGE RETIREMENT EQUITIES FUND
STOCK ACCOUNT
SUMMARY OF MARKET VALUES BY COUNTRY (unaudited)
September 30, 2012

Country	Value (000)		% of total portfolio
DOMESTIC
UNITED STATES	$	78,583,548		70.6	%
TOTAL DOMESTIC		78,583,548		70.6
FOREIGN
ARGENTINA		1,469		0.0
AUSTRALIA		1,675,007		1.5
AUSTRIA		109,570		0.1
BAHAMAS		117		0.0
BELGIUM		238,131		0.2
BERMUDA		36,840		0.0
BRAZIL		951,901		0.9
CAMBODIA		1,809		0.0
CANADA		2,888,317		2.6
CAYMAN ISLANDS		1,457		0.0
CHILE		140,522		0.1
CHINA		1,298,028		1.2
COLOMBIA		115,419		0.1
CYPRUS		4,887		0.0
CZECH REPUBLIC		26,809		0.0
DENMARK		258,226		0.2
EGYPT		25,376		0.0
FAROE Islands		375		0.0
FINLAND		117,718		0.1
FRANCE		1,867,987		1.7
GERMANY		1,892,644		1.7
GIBRALTAR		1,583		0.0
GREECE		30,336		0.0
GUERNSEY, C.I.		5,646		0.0
HONG KONG		686,890		0.6
HUNGARY		19,117		0.0
INDIA		648,088		0.6
INDONESIA		253,990		0.2
IRELAND		216,353		0.2
Isle of Man		3,794		0.0
ISRAEL		265,503		0.3
ITALY		454,626		0.4
JAPAN		4,479,286		4.0
JERSEY, C.I.		14,803		0.0
KOREA, REPUBLIC OF		1,233,529		1.1
LIECHTENSTEIN		1,449		0.0
LUXEMBOURG		34,066		0.0
MALAYSIA		256,992		0.2
MACAU		77,294		0.1
MEXICO		426,390		0.4
MONACO		816		0.0
MOROCCO		5,774		0.0
NETHERLANDS		1,032,140		0.9
NEW ZEALAND		64,747		0.1
NORWAY		274,160		0.3
PANAMA		13,819		0.0
PERU		38,255		0.0
PHILIPPINES		94,893		0.1
POLAND		122,393		0.1

187

Country	Value (000)		% of total portfolio
PORTUGAL		22,109		0.0
PUERTO RICO		1,901		0.0
RUSSIA		447,140		0.4
SINGAPORE		322,556		0.3
SOUTH AFRICA		591,030		0.6
SPAIN		438,051		0.4
SRI LANKA		485		0.0
SWEDEN		570,038		0.5
SWITZERLAND		1,713,165		1.5
TAIWAN		893,633		0.8
THAILAND		206,368		0.2
TURKEY		161,156		0.2
UKRAINE		5,159		0.0
UNITED ARAB EMIRATES		23,986		0.0
UNITED KINGDOM		4,931,275		4.5
TOTAL FOREIGN		32,737,393		29.4
TOTAL PORTFOLIO	$	111,320,941		100.0	%

188

COLLEGE RETIREMENT EQUITIES FUND - Global Equities Account

COLLEGE RETIREMENT EQUITIES FUND
GLOBAL EQUITIES ACCOUNT
SCHEDULE OF INVESTMENTS (unaudited)
September 30, 2012

SHARES			COMPANY	VALUE (000)
COMMON STOCKS - 98.8%
AUSTRALIA - 2.6%
	155,815		AGL Energy Ltd	$	2,414
	30,640		ALS Ltd		272
	800,945	e	Alumina Ltd		697
	356,590		Amcor Ltd		2,861
	1,002,431		AMP Ltd		4,479
	46,777	e	APA Group		229
	207,490		Asciano Group		935
	1,133,344		Australia & New Zealand Banking Group Ltd		28,963
	54,819		Australian Stock Exchange Ltd		1,675
	51,854		Bendigo Bank Ltd		412
	1,813,801		BHP Billiton Ltd		61,976
	758,880	*	BlueScope Steel Ltd		329
	101,176		Boral Ltd		401
	357,545		Brambles Ltd		2,591
	18,575		Caltex Australia Ltd		316
	86,035		Centro Retail Australia (REIT)		187
	258,903		CFS Gandel Retail Trust		517
	182,590		Coca-Cola Amatil Ltd		2,563
	5,208	e	Cochlear Ltd		361
	462,099		Commonwealth Bank of Australia		26,607
	6,000,000		Commonwealth Property Office Fund		6,428
	146,400		Computershare Ltd		1,256
	61,166		Crown Ltd		575
	145,930		CSL Ltd		6,941
	799,457	e	David Jones Ltd		2,076
	647,315		DB RREEF Trust		636
	66,488		DuluxGroup Ltd		227
	99,933	e	Echo Entertainment Group Ltd		395
	1,645,062	e	Fortescue Metals Group Ltd		5,898
	719,839		GPT Group (ASE)		2,531
	70,569	e	Harvey Norman Holdings Ltd		141
	38,343		Iluka Resources Ltd		392
	320,905		Incitec Pivot Ltd		985
	636,776		Insurance Australia Group Ltd		2,872
	302,136	e	John Fairfax Holdings Ltd		129
	47,094		Leighton Holdings Ltd		806
	193,760		Lend Lease Corp Ltd		1,570
	152,761	*,e	Lynas Corp Ltd		124
	193,361		Macquarie Goodman Group		790
	117,569		Macquarie Group Ltd		3,447
	111,268		Metcash Ltd		407
	1,107,546		Mirvac Group		1,638
	1,000,000	e	Myer Holdings Ltd		1,800

189

COLLEGE RETIREMENT EQUITIES FUND - Global Equities Account

SHARES			COMPANY	VALUE (000)
	1,091,503		National Australia Bank Ltd	$	28,698
	301,777		Newcrest Mining Ltd		9,072
	349,707		OneSteel Ltd		196
	117,012		Orica Ltd		3,009
	365,177		Origin Energy Ltd		4,279
	116,821		Oxiana Ltd		811
	152,154	*	Qantas Airways Ltd		191
	452,224		QBE Insurance Group Ltd		6,040
	156,450		QR National Ltd		551
	211,901		Ramsay Health Care Ltd		5,268
	391,278		Rio Tinto Ltd		21,492
	288,975		Santos Ltd		3,390
	22,012	e	Sims Group Ltd		218
	33,477		Sonic Healthcare Ltd		469
	214,387		SP AusNet		232
	822,500		Stockland Trust Group		2,837
	459,945		Suncorp-Metway Ltd		4,387
	69,180		Sydney Airport		226
	94,695		Tabcorp Holdings Ltd		271
	180,904		Tattersall’s Ltd		507
	1,599,066		Telstra Corp Ltd		6,483
	255,184		Toll Holdings Ltd		1,161
	370,941		Transurban Group		2,300
	363,864		Wesfarmers Ltd		12,878
	4,153,911		Westfield Group		43,651
	1,341,261		Westfield Retail Trust		4,005
	839,962		Westpac Banking Corp		21,537
	29,800		Whitehaven Coal Ltd		88
	211,997		Woodside Petroleum Ltd		7,252
	373,691		Woolworths Ltd		11,127
	40,242		WorleyParsons Ltd		1,174
			TOTAL AUSTRALIA		384,649
AUSTRIA - 0.2%
	83,509		Andritz AG.		4,735
	82,900		Austriamicrosystems AG.		8,275
	20,360	*	Erste Bank der Oesterreichischen Sparkassen AG.		455
	49,423		IMMOFINANZ Immobilien Anlagen AG.		180
	7,264		Oest Elektrizitatswirts AG. (Class A)		150
	170,000		Oesterreichische Post AG.		6,084
	15,194		OMV AG.		532
	5,212	e	Raiffeisen International Bank Holding AG.		189
	28,514		Telekom Austria AG.		202
	11,158		Voestalpine AG.		335
	3,986		Wiener Staedtische Allgemeine Versicherung AG.		169
	904,573	e	Wienerberger AG.		7,016
			TOTAL AUSTRIA		28,322
BELGIUM - 0.7%
	22,897	*	Ageas		550
	31,925	*	Anheuser-Busch InBev NV		0	^
	14,547		Belgacom S.A.		444
	7,491	e	Colruyt S.A.		326

190

COLLEGE RETIREMENT EQUITIES FUND - Global Equities Account

SHARES			COMPANY	VALUE (000)
	9,619		Delhaize Group	$	371
	7,564		Groupe Bruxelles Lambert S.A.		562
	477	*	Groupe Bruxelles Lambert S.A. - STR VVPR		0	^
	543,338		InBev NV		46,482
	15,432		KBC Groep NV		371
	2,869		Mobistar S.A.		91
	5,824		Solvay S.A.		675
	2,293		Telenet Group Holding NV		102
	628,352		UCB S.A.		34,577
	215,776	e	Umicore		11,296
			TOTAL BELGIUM		95,847
BERMUDA - 0.0%
	83,000		Validus Holdings Ltd		2,815
					2,815
BRAZIL - 0.3%
	329,000		BTG Pactual Participations Ltd		5,242
	23,506	e	Companhia Vale do Rio Doce (ADR)		421
	1,439,300	*	Gol Linhas Aereas Inteligentes S.A.		8,214
	1,000,000		Klabin S.A.		5,229
	850,000		Marcopolo S.A.		4,969
	9,699,100		PDG Realty S.A.		18,276
			TOTAL BRAZIL		42,351
CANADA - 3.9%
	29,390		Agnico-Eagle Mines Ltd		1,525
	141,821	e	Agrium, Inc (Toronto)		14,714
	16,457		Alimentation Couche Tard, Inc		756
	36,451	e	ARC Energy Trust		886
	28,252	*	Athabasca Oil Corp		379
	1,275		Bank of Montreal		75
	235,167		Bank of Montreal (Toronto)		13,898
	345,885	e	Bank of Nova Scotia		18,971
	756,187		Barrick Gold Corp (Canada)		31,598
	61,793	e	Baytex Energy Trust		2,937
	192,825	e	BCE, Inc		8,483
	43,173	e	Bell Aliant Regional Communications Income Fund		1,198
	97,055	*	Biovail Corp (Toronto)		5,357
	368,461	e	Bombardier, Inc		1,383
	12,795	e	Bonavista Energy Trust		227
	149,963		Brookfield Asset Management, Inc		5,177
	129,286		CAE, Inc		1,385
	195,789	e	Cameco Corp		3,814
	202,611	e	Canadian Imperial Bank of Commerce/Canada		15,859
	353,456	e	Canadian National Railway Co		31,276
	452,304		Canadian Natural Resources Ltd (Canada)		13,954
	211,194		Canadian Oil Sands Trust		4,522
	163,673	e	Canadian Pacific Railway Ltd (Toronto)		13,584
	11,775	e	Canadian Tire Corp Ltd		847
	12,150		Canadian Utilities Ltd		849
	240,000		Cenovus Energy, Inc		8,364
	387,580		Cenovus Energy, Inc (Toronto)		13,526
	15,912		Centerra Gold, Inc		199
	378,900	*,e	CGI Group, Inc		10,175
	39,706	e	CI Financial Corp		918

191

COLLEGE RETIREMENT EQUITIES FUND - Global Equities Account

SHARES			COMPANY	VALUE (000)
	241,040	e	Crescent Point Energy Corp	$	10,673
	208,200		Dollarama, Inc		13,289
	307,011		Eldorado Gold Corp		4,681
	6,922		Empire Co Ltd		417
	217,303	e	Enbridge, Inc		8,488
	195,323	e	EnCana Corp		4,278
	26,771	e	Enerplus Resources Fund		444
	5,324		Fairfax Financial Holdings Ltd		2,056
	91,548		Finning International, Inc		2,220
	215,962		First Quantum Minerals Ltd		4,602
	57,853	e	Fortis, Inc		1,973
	72,159	*	Franco-Nevada Corp		4,253
	11,915	*	George Weston Ltd		767
	15,771		Gildan Activewear, Inc		500
	240,731		Goldcorp, Inc		11,053
	135,367		Great-West Lifeco, Inc		3,079
	47,970		H&R Real Estate Investment Trust		1,229
	158,594	e	Husky Energy, Inc		4,262
	80,946		IAMGOLD Corp		1,284
	56,529	e	IGM Financial, Inc		2,207
	128,020		Imperial Oil Ltd		5,892
	17,490		Industrial Alliance Insurance and Financial Services, Inc		499
	23,272		ING Canada, Inc		1,416
	6,905		Inmet Mining Corp		328
	51,030	*,e	Ivanhoe Mines Ltd		434
	505,359		Kinross Gold Corp		5,171
	15,642	e	Loblaw Cos Ltd		543
	38,755	*,e	Lululemon Athletica, Inc		2,866
	108,304	e	Magna International, Inc (Class A)		4,683
	150,000		Manitoba Telecom Services, Inc		5,150
	498,661	e	Manulife Financial Corp		6,011
	17,214	*	MEG Energy Corp		655
	133,913	e	Metro, Inc		7,955
	71,999	e	National Bank of Canada		5,449
	227,691	*	New Gold, Inc		2,791
	129,050		Nexen, Inc		3,269
	21,902		Onex Corp		864
	34,623	*	Open Text Corp		1,909
	239,401	*	Osisko Mining Corp		2,372
	22,783	e	Pan American Silver Corp		488
	40,375	e	Pembina Pipeline Income Fund		1,133
	51,066	e	Pengrowth Energy Trust		344
	152,872	e	Penn West Energy Trust		2,175
	321,234		Potash Corp of Saskatchewan Toronto		13,962
	170,818	e	Power Corp Of Canada		4,153
	115,199	e	Power Financial Corp		2,978
	171,020	*	Precision Drilling Trust		1,345
	23,125		ProEx Energy Ltd		515
	84,217		RioCan Real Estate Investment Trust		2,370
	38,011	e	Ritchie Bros Auctioneers, Inc		731
	108,875	e	Rogers Communications, Inc (Class B)		4,408
	669,717	e	Royal Bank of Canada (Toronto)		38,517

192

COLLEGE RETIREMENT EQUITIES FUND - Global Equities Account

SHARES			COMPANY	VALUE (000)
	61,233	e	Saputo, Inc	$	2,632
	64,239	e	Shaw Communications, Inc (B Shares)		1,315
	92,042	e	Shoppers Drug Mart Corp		3,832
	155,015		Silver Wheaton Corp		6,162
	23,259		SNC-Lavalin Group, Inc		898
	183,345		Sun Life Financial, Inc		4,256
	1,147,549		Suncor Energy, Inc		37,750
	301,973	e	Talisman Energy, Inc		4,036
	148,977		Teck Cominco Ltd		4,396
	71,708	e	TELUS Corp, non-voting shares		4,486
	173,574	e	Thomson Corp (Toronto)		5,018
	71,000		Tim Hortons, Inc (Toronto)		3,695
	71	*	TMX Group Ltd		4
	474,755	e	Toronto-Dominion Bank		39,594
	10,663	*	Tourmaline Oil Corp		333
	129,182	e	TransAlta Corp		1,978
	333,541	e	TransCanada Corp		15,179
	200,000	e	Trican Well Service Ltd		2,602
	19,321	e	Vermilion Energy Trust		908
	130,151		Viterra, Inc		2,133
	176,120	e	Yamana Gold, Inc		3,364
			TOTAL CANADA		584,538
CHINA - 0.5%
	3,500,000	e	Agile Property Holdings Ltd		3,912
	794,000	e	Agricultural Bank of China		307
	5,000,000		Air China Ltd		3,126
	2,708,700		Bank of Communications Co Ltd		1,827
	7,000,000		Beijing Capital International Airport Co Ltd		4,675
	1,122,000		China Aoyuan Property Group Ltd		143
	1,119,500	e	China Merchants Bank Co Ltd		1,871
	1,300,257	*	China New Town Development Co Ltd		53
	5,000,000	e	China Railway Construction Corp		4,451
	9,000,000		China Railway Group Ltd		3,912
	3,147,800		China Resources Enterprise		10,474
	6,154,000		China Unicom Ltd		10,029
	3,930,000		CNOOC Ltd		7,979
	87,584	e	Cosco Corp Singapore Ltd		69
	187,728	*,e	Foxconn International Holdings Ltd		62
	209,000	*,e	Glorious Property Holdings Ltd		32
	6,877,000	e	Industrial & Commercial Bank of China		4,035
	791,000		Intime Department Store Group Co Ltd		851
	198,186	*,e	Melco PBL Entertainment Macau Ltd (ADR)		2,672
	180,000	e	Ping An Insurance Group Co of China Ltd		1,347
	3,000,000	e	Shimao Property Holdings Ltd		5,127
	2,185,825	e	Sino-Ocean Land Holdings Ltd		1,230
	168,000		Tencent Holdings Ltd		5,688
	950,000		Xinao Gas Holdings Ltd		3,989
	836,000	e	Xingda International Holdings Ltd		262
	169,000	e	Yangzijiang Shipbuilding		134
	1,650,000	e	Yanlord Land Group Ltd		1,595
			TOTAL CHINA		79,852
COLUMBIA - 0.1%
	517,600		Pacific Rubiales Energy Corp (Toronto)		12,367
			TOTAL COLUMBIA		12,367

193

COLLEGE RETIREMENT EQUITIES FUND - Global Equities Account

SHARES			COMPANY	VALUE (000)
DENMARK - 0.5%
	55		AP Moller - Maersk AS (Class A)	$	372
	120		AP Moller - Maersk AS (Class B)		858
	50,501		Carlsberg AS (Class B)		4,474
	797,295		Christian Hansen Holding		23,959
	2,171	e	Coloplast AS (Class B)		452
	55,114	*	Danske Bank AS		993
	19,083		DSV AS		429
	141,508		Novo Nordisk AS (Class B)		22,270
	38,318		Novozymes AS		1,057
	725,684		TDC AS		5,295
	30,000	*	Topdanmark AS		5,862
	2,057		TrygVesta AS		133
	2,525	*	William Demant Holding		226
			TOTAL DENMARK		66,380
FINLAND - 0.2%
	13,213	e	Elisa Oyj (Series A)		299
	223,037		Fortum Oyj		4,109
	100,000		KCI Konecranes Oyj		2,909
	6,232	e	Kesko Oyj (B Shares)		177
	15,249		Kone Oyj (Class B)		1,057
	12,168		Metso Oyj		436
	12,237		Neste Oil Oyj		161
	290,663	e	Nokia Oyj		754
	10,338		Nokian Renkaat Oyj		422
	13,376		OKO Bank (Class A)		176
	4,898	e	Orion Oyj (Class B)		105
	287,900	e	Outotec Oyj		13,710
	41,467		Sampo Oyj (A Shares)		1,292
	56,835	e	Stora Enso Oyj (R Shares)		354
	51,053		UPM-Kymmene Oyj		579
	16,314	e	Wartsila Oyj (B Shares)		566
			TOTAL FINLAND		27,106
FRANCE - 3.3%
	14,619		Accor S.A.		487
	3,014		Aeroports de Paris		240
	29,501		Air Liquide		3,657
	214,811	*,e	Alcatel S.A.		237
	365,891		Alstom RGPT		12,809
	371,710		Arkema		34,793
	349,855		Atos Origin S.A.		24,342
	165,203		AXA S.A.		2,459
	977,413		BNP Paribas		46,340
	9,205		Bouygues S.A.		224
	4,961		Bureau Veritas S.A.		509
	14,332		Cap Gemini S.A.		606
	59,715		Carrefour S.A.		1,239
	5,293		Casino Guichard Perrachon S.A.		468
	2,818		Christian Dior S.A.		377
	14,789		CNP Assurances		193

194

COLLEGE RETIREMENT EQUITIES FUND - Global Equities Account

`

SHARES			COMPANY	VALUE (000)
	333,210		Compagnie de Saint-Gobain	$	11,663
	13,171	*,e	Compagnie Generale de Geophysique S.A.		423
	1	*	Compagnie Generale de Geophysique-Veritas (ADR)		0	^
	19,847		Compagnie Generale d’Optique Essilor International S.A.		1,857
	91,985	*	Credit Agricole S.A.		633
	6,385	e	Dassault Systemes S.A.		671
	1,700,979		Edenred		47,763
	25,474		Electricite de France		533
	3,241		Eurazeo		148
	6,443		Eutelsat Communications		207
	2,328		Fonciere Des Regions		175
	112,941		France Telecom S.A.		1,368
	772,700	*,e	GameLoft		5,142
	132,500	e	Gaz de France		2,954
	2,005		Gecina S.A.		205
	134,039		Groupe Danone		8,247
	30,582		Groupe Eurotunnel S.A.		215
	2,150		Icade		175
	1,088	e	Iliad S.A.		177
	3,402		Imerys S.A.		200
	979,625	e	JC Decaux S.A.		22,175
	9,475		Klepierre		332
	492,918		Lafarge S.A.		26,483
	6,169		Lagardere S.C.A.		168
	17,219		Legrand S.A.		649
	16,714		L’Oreal S.A.		2,067
	106,567		LVMH Moet Hennessy Louis Vuitton S.A.		15,998
	166,298		Michelin (C.G.D.E.) (Class B)		13,021
	84,903		Natixis		267
	69,791		Pernod-Ricard S.A.		7,828
	9,439	e	Peugeot S.A.		75
	6,483		PPR		995
	8,803	e	Publicis Groupe S.A.		492
	397,706		Remy Cointreau S.A.		45,729
	112,084		Renault S.A.		5,252
	674,344		Rexel S.A.		13,569
	20,674		Safran S.A.		744
	386,297		Sanofi-Aventis		33,058
	48,907		Schneider Electric S.A.		2,892
	16,638		SCOR		429
	62,765		Societe BIC S.A.		7,581
	773,655	*	Societe Generale		21,924
	4,838		Sodexho Alliance S.A.		364
	15,071		Suez Environnement S.A.		170
	303,264		Technip S.A.		33,696
	9,197	e	Thales S.A.		316
	210,260		Total S.A.		10,460
	8,577		Unibail		1,709
	10,189		Vallourec		430
	16,342		Veolia Environnement		176
	43,534		Vinci S.A.		1,852
	123,509		Vivendi Universal S.A.		2,407
	1,728		Wendel		146
	1,858		Zodiac S.A.		181
			TOTAL FRANCE		485,371

195

COLLEGE RETIREMENT EQUITIES FUND - Global Equities Account

SHARES			COMPANY	VALUE (000)
GERMANY - 3.5%
	10,795		Adidas-Salomon AG.	$	886
	547,404		Allianz AG.		65,285
	2,024		Axel Springer AG.		88
	515,952		BASF AG.		43,596
	988,076		Bayer AG.		84,964
	283,150		Bayerische Motoren Werke AG.		20,763
	535		Bayerische Motoren Werke AG. (Preference)		28
	267,679		Beiersdorf AG.		19,660
	96,210		Brenntag AG.		12,328
	8,435		Celesio AG.		151
	368,439	*	Commerzbank AG.		659
	46,138		Continental AG.		4,525
	310,905		Daimler AG. (Reg)		15,090
	60,731		Deutsche Bank AG.		2,406
	19,164		Deutsche Boerse AG.		1,060
	22,459		Deutsche Lufthansa AG.		305
	83,655		Deutsche Post AG.		1,634
	276,431		Deutsche Telekom AG.		3,399
	1,365,082		E.ON AG.		32,438
	3,577		Fraport AG. Frankfurt Airport Services Worldwide		207
	215,265		Fresenius Medical Care AG.		15,790
	11,518		Fresenius SE		1,337
	59,364		GEA Group AG.		1,800
	5,975		Hannover Rueckversicherung AG.		382
	13,830		HeidelbergCement AG.		726
	12,844		Henkel KGaA		838
	17,574		Henkel KGaA (Preference)		1,400
	1,760	*	Hochtief AG.		83
	1,297		Hugo Boss AG.		114
	106,265		Infineon Technologies AG.		675
	17,132		K&S AG.		844
	240,754	*,e	Kabel Deutschland Holding AG.		17,186
	94,187		Lanxess AG.		7,824
	17,371		Linde AG.		2,994
	129,497		MAN AG.		11,877
	3,329		Merck KGaA		411
	11,720		Metro AG.		351
	109,290		Muenchener Rueckver AG.		17,089
	60,000		Norddeutsche Affinerie AG.		3,502
	15,043		Porsche AG.		901
	144,577		ProSiebenSat.1 Media AG.		3,645
	70,878		Rheinmetall AG.		3,311
	35,620		RWE AG.		1,594
	3,154	e	RWE AG. (Preference)		126
	3,907		Salzgitter AG.		151
	771,843		SAP AG.		54,927
	81,391		Siemens AG.		8,141
	196,407	e	Suedzucker AG.		6,958
	35,687		ThyssenKrupp AG.		760
	4,736		United Internet AG.		97
	26,542		Volkswagen AG.		4,449
	200,041		Volkswagen AG. (Preference)		36,577
	851	e	Wacker Chemie AG.		55
	341,804		Wirecard AG.		7,866
			TOTAL GERMANY		524,253

196

COLLEGE RETIREMENT EQUITIES FUND - Global Equities Account

SHARES			COMPANY	VALUE (000)
GREECE - 0.0%
	19,469		Coca Cola Hellenic Bottling Co S.A.	$	363
	19,237		OPAP S.A.		99
			TOTAL GREECE		462
HONG KONG - 1.0%
	7,219,400		AIA Group Ltd		26,751
	17,758	e	ASM Pacific Technology		210
	129,266	e	Bank of East Asia Ltd		482
	2,570,448		BOC Hong Kong Holdings Ltd		8,129
	105,237	e	Cathay Pacific Airways Ltd		170
	596,111		Cheung Kong Holdings Ltd		8,708
	42,661		Cheung Kong Infrastructure Holdings Ltd		258
	7,098,000	e	China Resources Cement Holdings Ltd		4,101
	496,956		CLP Holdings Ltd		4,218
	2,188,021	e	Esprit Holdings Ltd		3,354
	190,504		First Pacific Co		206
	126,000	*,e	Galaxy Entertainment Group Ltd		419
	217,927		Hang Lung Group Ltd		1,376
	1,151,337		Hang Lung Properties Ltd		3,920
	360,870	e	Hang Seng Bank Ltd		5,517
	314,276		Henderson Land Development Co Ltd		2,251
	1,804		HKT Trust and HKT Ltd		2
	1,558,859		Hong Kong & China Gas Ltd		3,941
	295,279		Hong Kong Electric Holdings Ltd		2,507
	251,459	e	Hong Kong Exchanges and Clearing Ltd		3,778
	49,403		Hopewell Holdings		170
	489,700		Hutchison Port Holdings Trust		354
	667,416		Hutchison Whampoa Ltd		6,436
	57,584		Hysan Development Co Ltd		261
	2,000,000	e	iShares Asia Trust - iShares FTSE/Xinhua A50 China Tracker		2,512
	1,525,927		Kerry Properties Ltd		7,695
	1,752,638		Li & Fung Ltd		2,703
	46,000		Lifestyle International Holdings Ltd		95
	1,533,945		Link Real Estate Investment Trust		7,265
	405,915		MTR Corp		1,535
	1,633,895		New World Development Ltd		2,518
	355,263		Noble Group Ltd		381
	124,805		NWS Holdings Ltd		200
	19,864		Orient Overseas International Ltd		109
	279,749		PCCW Ltd		114
	6,261,300		Samsonite International		11,978
	2,770,286	e	Shanghai Real Estate Ltd		94
	137,345		Shangri-La Asia Ltd		266

197

COLLEGE RETIREMENT EQUITIES FUND - Global Equities Account

SHARES			COMPANY	VALUE (000)
	262,964		Sino Land Co	$	490
	77,120	*,e	Sino-Forest Corp		1
	170,000		SJM Holdings Ltd		367
	514,904		Sun Hung Kai Properties Ltd		7,492
	143,293		Swire Pacific Ltd (Class A)		1,749
	67,156		Swire Properties Ltd		207
	1,767,662		Wharf Holdings Ltd		12,223
	83,780		Wheelock & Co Ltd		360
	15,696		Wing Hang Bank Ltd		147
	66,089		Yue Yuen Industrial Holdings		222
			TOTAL HONG KONG		148,242
INDIA - 0.5%
	1,111,400	*	Adani Enterprises Ltd		4,231
	1,802,756	*	DEN Networks Ltd		5,908
	1,530,483	*	Dhanalakshmi Bank Ltd		1,608
	4,715,417		DLF Ltd		20,780
	787,416		Geodesic Information Systems Ltd		640
	481,269	*	Hathway Cables and Datacom Pvt Ltd		2,053
	1,764,100		Infrastructure Development Finance Co Ltd		5,148
	400,070		ING Vysya Bank Ltd		3,087
	350,000		ITC Ltd		1,803
	326,698		Larsen & Toubro Ltd		9,869
	454,322	*	LIC Housing Finance Ltd		2,426
	765,751	*	Prestige Estates Projects Ltd		1,968
	779,738	f	Puravankara Projects Ltd (purchased 11/26/07, cost $2,222)		1,027
	200,000		Sun Pharmaceuticals Industries Ltd		2,632
	1,026,552		Sunteck Realty Ltd		6,188
	19,298,086	*	Unitech Ltd		8,857
	48,400		United Spirits Ltd		1,112
	3,866		Vedanta Resources plc		64
			TOTAL INDIA		79,401
INDONESIA - 0.1%
	4,879,000		Bank Rakyat Indonesia		3,781
	12,000,000		PT Bank Negara Indonesia		4,901
			TOTAL INDONESIA		8,682
IRELAND - 0.6%
	147,992	*,m	Anglo Irish Bank Corp plc		0	^
	63,765		CRH plc		1,225
	6,125		CRH plc (Ireland)		118
	46,691	*,e	Elan Corp plc		502
	60,392		James Hardie Industries NV		542
	107,112		Kerry Group plc (Class A)		5,485
	135,500		Paddy Power plc		10,035
	14,350	*	Ryanair Holdings plc		82
	1,112,619		Shire Ltd		32,821
	657,400		Smurfit Kappa Group plc		6,618
	2,262,698		WPP plc		30,820
	48,950		XL Capital Ltd		1,176
			TOTAL IRELAND		89,424
ISLE OF MAN - 0.0%
	3,631,384	*	Unitech Corporate Parks plc		1,957
			TOTAL ISLE OF MAN		1,957

198

COLLEGE RETIREMENT EQUITIES FUND - Global Equities Account

SHARES			COMPANY	VALUE (000)
ISRAEL - 0.3%
	52,715	*	Bank Hapoalim Ltd	$	188
	63,610	*	Bank Leumi Le-Israel		178
	103,068		Bezeq Israeli Telecommunication Corp Ltd		120
	70,000	*	Check Point Software Technologies		3,371
	70		Delek Group Ltd		12
	21,508		Israel Chemicals Ltd		261
	132		Israel Corp Ltd		84
	1,730	*	Mellanox Technologies Ltd		179
	6,605	*	Mizrahi Tefahot Bank Ltd		59
	3,188	*	Nice Systems Ltd		106
	48,713		Teva Pharmaceutical Industries Ltd		2,011
	919,790		Teva Pharmaceutical Industries Ltd (ADR)		38,089
			TOTAL ISRAEL		44,658
ITALY - 1.2%
	228,506		ACEA S.p.A.		1,369
	115,576		Assicurazioni Generali S.p.A.		1,666
	8,501		Autogrill S.p.A.		81
	32,118		Autostrade S.p.A.		500
	883,785		Banca Intesa S.p.A.		1,348
	96,435		Banca Intesa S.p.A. RSP		125
	454,035	*,e	Banca Monte dei Paschi di Siena S.p.A.		132
	69,328		Banche Popolari Unite Scpa		257
	123,235	*	Banco Popolare Scarl		185
	330,500	*	Brunello Cucinelli S.p.A		5,727
	782,477		De’Longhi S.p.A.		9,161
	89,750		Enel Green Power S.p.A		152
	340,494		Enel S.p.A.		1,206
	1,619,431	e	ENI S.p.A.		35,504
	156,696		Exor S.p.A.		3,948
	80,334		Fiat Industrial S.p.A.		787
	79,528	*	Fiat S.p.A.		425
	35,661	*	Finmeccanica S.p.A.		169
	711,009		Lottomatica S.p.A.		15,682
	279,006		Luxottica Group S.p.A.		9,842
	67,085		Mediaset S.p.A.		126
	47,733		Mediobanca S.p.A.		256
	303,107	e	Pirelli & C S.p.A.		3,271
	1,386,400	e	Prada S.p.A.		10,300
	14,222		Prysmian S.p.A.		254
	1,222,481		Saipem S.p.A.		58,912
	87,835		Snam Rete Gas S.p.A.		390
	323,478		Telecom Italia RSP		283
	757,844		Telecom Italia S.p.A.		761
	64,622		Terna Rete Elettrica Nazionale S.p.A.		241
	1,473,071		UniCredit S.p.A		6,130
	301,499	*,e	Yoox S.p.A		3,865
			TOTAL ITALY		173,055
JAPAN - 7.1%
	1,900	e	ABC-Mart, Inc		84
	3,390		Advance Residence Investment Corp		7,134
	693,643	e	Advantest Corp		9,018

199

COLLEGE RETIREMENT EQUITIES FUND - Global Equities Account

SHARES			COMPANY	VALUE (000)
	224,609	e	Aeon Co Ltd	$	2,536
	9,103	e	Aeon Credit Service Co Ltd		196
	9,500		Aeon Mall Co Ltd		232
	12,000		Air Water, Inc		147
	257,742	e	Aisin Seiki Co Ltd		7,340
	50,529		Ajinomoto Co, Inc		791
	4,957		Alfresa Holdings Corp		244
	69,435	e	All Nippon Airways Co Ltd		146
	316,744		Amada Co Ltd		1,384
	6,913,448		Aozora Bank Ltd		21,141
	188,807		Asahi Breweries Ltd		4,656
	268,773		Asahi Glass Co Ltd		1,788
	461,834	e	Asahi Kasei Corp		2,381
	11,800		Asics Corp		159
	130,541	e	Astellas Pharma, Inc		6,616
	24,653	e	Bank of Kyoto Ltd		209
	367,971		Bank of Yokohama Ltd		1,750
	25,983		Benesse Corp		1,257
	702,204		Bridgestone Corp		16,286
	84,085	e	Brother Industries Ltd		779
	541,397		Canon, Inc		17,378
	152,100	e	Capcom Co Ltd		3,147
	28,823	e	Casio Computer Co Ltd		204
	56,000		Central Japan Railway Co		4,916
	280,323		Chiba Bank Ltd		1,630
	148,000	e	Chiyoda Corp		2,299
	82,266		Chubu Electric Power Co, Inc		1,068
	82,858		Chugai Pharmaceutical Co Ltd		1,737
	13,100		Chugoku Bank Ltd		185
	36,353	e	Chugoku Electric Power Co, Inc		483
	20,842		Citizen Watch Co Ltd		105
	7,771		Coca-Cola West Japan Co Ltd		129
	118,343		Cosmo Oil Co Ltd		218
	209,155		Credit Saison Co Ltd		5,053
	1,200		Crescendo Investment Corp		809
	69,076	e	Dai Nippon Printing Co Ltd		482
	23,630		Daicel Chemical Industries Ltd		142
	32,698	e	Daido Steel Co Ltd		152
	88,290	e	Daihatsu Motor Co Ltd		1,471
	2,889	e	Dai-ichi Mutual Life Insurance Co		3,268
	121,297	e	Daiichi Sankyo Co Ltd		1,998
	85,046	e	Daikin Industries Ltd		2,200
	19,963	e	Dainippon Sumitomo Pharma Co Ltd		219
	19,311	e	Daito Trust Construction Co Ltd		1,939
	61,856		Daiwa House Industry Co Ltd		896
	1,787,400	e	Daiwa Securities Group, Inc		6,789
	31,800	e	Dena Co Ltd		1,055
	58,676		Denki Kagaku Kogyo KK		182
	306,545		Denso Corp		9,632
	21,955	e	Dentsu, Inc		556
	105,252		East Japan Railway Co		6,964
	31,617	e	Eisai Co Ltd		1,424

200

COLLEGE RETIREMENT EQUITIES FUND - Global Equities Account

SHARES			COMPANY	VALUE (000)
	72,493	e	Electric Power Development Co	$	1,909
	5,300	*,m	Elpida Memory, Inc		0	^
	209,244		FamilyMart Co Ltd		10,280
	74,843		Fanuc Ltd		12,047
	16,318		Fast Retailing Co Ltd		3,790
	39,300	e	FCC Co Ltd		631
	44,822	e	Fuji Electric Holdings Co Ltd		91
	351,084	e	Fuji Folms Holdings Corp		5,880
	76,342		Fuji Heavy Industries Ltd		636
	3,547		Fuji Television Network, Inc		5,803
	1,132,991	e	Fujitsu Ltd		4,253
	61,167		Fukuoka Financial Group, Inc		248
	83,805		Furukawa Electric Co Ltd		157
	41,700	e	Gree, Inc		761
	45,110	e	GS Yuasa Corp		188
	28,879		Gunma Bank Ltd		147
	31,842		Hachijuni Bank Ltd		177
	2,935	e	Hakuhodo DY Holdings, Inc		198
	5,337	e	Hamamatsu Photonics KK		183
	66,000		Hankyu Hanshin Holdings, Inc		356
	97,582	e	Hino Motors Ltd		639
	3,587	e	Hirose Electric Co Ltd		402
	10,592		Hiroshima Bank Ltd		35
	7,800	e	Hisamitsu Pharmaceutical Co, Inc		432
	12,852		Hitachi Chemical Co Ltd		173
	8,222	e	Hitachi Construction Machinery Co Ltd		133
	23,500		Hitachi High-Technologies Corp		567
	200,000	e	Hitachi Kokusai Electric, Inc		1,324
	5,888,685		Hitachi Ltd		32,700
	236,000		Hitachi Medical Corp		2,817
	51,000	e	Hitachi Metals Ltd		454
	22,484	e	Hokkaido Electric Power Co, Inc		182
	26,000		Hokuhoku Financial Group, Inc		40
	21,631	e	Hokuriku Electric Power Co		262
	817,368		Honda Motor Co Ltd		25,261
	114,553		Hoya Corp		2,513
	44,266	e	Ibiden Co Ltd		648
	2,300		Ichigo Real Estate Investment Corp		1,205
	34,747		Idemitsu Kosan Co Ltd		2,842
	786		Inpex Holdings, Inc		4,673
	143,481		Isetan Mitsukoshi Holdings Ltd		1,495
	4,672,978		Ishikawajima-Harima Heavy Industries Co Ltd		10,408
	426,169		Isuzu Motors Ltd		2,054
	622,870	e	Itochu Corp		6,288
	103,262	e	Itochu Techno-Science Corp		5,367
	19,652		Iyo Bank Ltd		160
	299,050		J Front Retailing Co Ltd		1,676
	221,700	*	Japan Airlines Co Ltd		10,369
	182,000		Japan Aviation Electronics Industry Ltd		1,527
	16,600		Japan Petroleum Exploration Co		665
	83		Japan Prime Realty Investment Corp		250
	123		Japan Real Estate Investment Corp		1,238

201

COLLEGE RETIREMENT EQUITIES FUND - Global Equities Account

SHARES			COMPANY	VALUE (000)
	209		Japan Retail Fund Investment Corp	$	373
	224,560	e	Japan Steel Works Ltd		1,248
	466,500		Japan Tobacco, Inc		13,964
	104,404	e	JFE Holdings, Inc		1,375
	75,978		JGC Corp		2,530
	49,624	e	Joyo Bank Ltd		243
	545,023		JS Group Corp		12,988
	22,653	e	JSR Corp		371
	36,003	e	JTEKT Corp		285
	232		Jupiter Telecommunications Co		235
	827,700	e	JX Holdings, Inc		4,521
	103,372	e	Kajima Corp		282
	29,852		Kamigumi Co Ltd		247
	33,900		Kaneka Corp		163
	95,074	e	Kansai Electric Power Co, Inc		742
	25,480	e	Kansai Paint Co Ltd		282
	41,353	e	Kao Corp		1,216
	511,212		Kawasaki Heavy Industries Ltd		1,014
	268,917	*,e	Kawasaki Kisen Kaisha Ltd		338
	106,700	e	KDDI Corp		8,276
	200,022	e	Keihin Electric Express Railway Co Ltd		1,884
	220,310	e	Keio Corp		1,660
	32,426		Keisei Electric Railway Co Ltd		292
	1,600		Kenedix Realty Investment Corp		5,753
	13,285		Keyence Corp		3,402
	12,795		Kikkoman Corp		175
	16,131		Kinden Corp		101
	388,914	e	Kintetsu Corp		1,523
	264,849		Kirin Brewery Co Ltd		3,541
	852,084	e	Kobe Steel Ltd		675
	7,000		Koito Manufacturing Co Ltd		81
	344,422	e	Komatsu Ltd		6,751
	6,073	e	Konami Corp		138
	152,613		Konica Minolta Holdings, Inc		1,174
	87,158	e	Kubota Corp		880
	51,187	e	Kuraray Co Ltd		581
	8,745	e	Kurita Water Industries Ltd		193
	56,212		Kyocera Corp		4,871
	32,045		Kyowa Hakko Kogyo Co Ltd		387
	50,884		Kyushu Electric Power Co, Inc		420
	21,251	e	Lawson, Inc		1,631
	3,016		Mabuchi Motor Co Ltd		138
	37,536	e	Makita Corp		1,453
	1,383,072	e	Marubeni Corp		8,793
	17,209	e	Marui Co Ltd		122
	5,496	e	Maruichi Steel Tube Ltd		117
	173,655	e	Matsushita Electric Industrial Co Ltd		1,149
	862,950	*	Mazda Motor Corp		1,007
	5,100		McDonald’s Holdings Co Japan Ltd		145
	18,112	e	Mediceo Paltac Holdings Co Ltd		249
	4,849	e	MEIJI Holdings Co Ltd		241
	359,364		Millea Holdings, Inc		9,145

202

COLLEGE RETIREMENT EQUITIES FUND - Global Equities Account

SHARES			COMPANY	VALUE (000)
	17,100		Miraca Holdings, Inc	$	768
	990,719	e	Mitsubishi Chemical Holdings Corp		3,784
	624,295	e	Mitsubishi Corp		11,308
	840,814		Mitsubishi Electric Corp		6,197
	402,705		Mitsubishi Estate Co Ltd		7,700
	46,160		Mitsubishi Gas Chemical Co, Inc		232
	994,150	e	Mitsubishi Heavy Industries Ltd		4,299
	14,262		Mitsubishi Logistics Corp		170
	380,293		Mitsubishi Materials Corp		1,196
	474,130	*,e	Mitsubishi Motors Corp		437
	4,921,954		Mitsubishi UFJ Financial Group, Inc		23,033
	7,160		Mitsubishi UFJ Lease & Finance Co Ltd		301
	1,072,904	e	Mitsui & Co Ltd		15,052
	216,087	e	Mitsui Chemicals, Inc		421
	393,137		Mitsui Fudosan Co Ltd		7,856
	139,499	e	Mitsui OSK Lines Ltd		325
	175,407		Mitsui Sumitomo Insurance Group Holdings, Inc		3,028
	1,960,749		Mitsui Trust Holdings, Inc		5,821
	7,607,856	e	Mizuho Financial Group, Inc		12,348
	228,300	e	MonotaRO Co Ltd		6,250
	315,220	e	Murata Manufacturing Co Ltd		16,781
	8,100	e	Nabtesco Corp		149
	314,106		Namco Bandai Holdings, Inc		5,321
	201,615	*	NEC Corp		320
	6,200	*	Nexon Co Ltd		86
	54,179	e	NGK Insulators Ltd		648
	19,988		NGK Spark Plug Co Ltd		210
	18,738		NHK Spring Co Ltd		161
	82,006	e	Nidec Corp		5,990
	90,881	e	Nikon Corp		2,499
	31,258	e	Nintendo Co Ltd		3,970
	129		Nippon Building Fund, Inc		1,390
	45,184	e	Nippon Electric Glass Co Ltd		249
	106,441		Nippon Express Co Ltd		403
	12,944		Nippon Meat Packers, Inc		166
	12,587	e	Nippon Paper Group, Inc		148
	18,000	e	Nippon Sheet Glass Co Ltd		13
	1,242,884	e	Nippon Steel Corp		2,545
	163,730		Nippon Telegraph & Telephone Corp		7,790
	546,308	e	Nippon Yusen Kabushiki Kaisha		965
	51,721		Nishi-Nippon City Bank Ltd		120
	1,144,643	e	Nissan Motor Co Ltd		9,742
	22,618	e	Nisshin Seifun Group, Inc		278
	84,321	m	Nisshin Steel Co Ltd		89
	7,835	e	Nissin Food Products Co Ltd		307
	2,756		Nitori Co Ltd		256
	20,637		Nitto Denko Corp		982
	111,200		NKSJ Holdings, Inc		2,169
	13,351	e	NOK Corp		214
	1,573,263	e	Nomura Holdings, Inc		5,618
	11,674		Nomura Real Estate Holdings, Inc		205
	68		Nomura Real Estate Office Fund, Inc		426

203

COLLEGE RETIREMENT EQUITIES FUND - Global Equities Account

SHARES			COMPANY	VALUE (000)
	12,464	e	Nomura Research Institute Ltd	$	257
	33,911	e	NSK Ltd		197
	35,948	e	NTN Corp		72
	159	e	NTT Data Corp		499
	5,663	e	NTT DoCoMo, Inc		9,150
	145		NTT Urban Development Corp		118
	79,259	e	Obayashi Corp		361
	236,398	e	Odakyu Electric Railway Co Ltd		2,484
	100,797	e	OJI Paper Co Ltd		307
	44,800	e	Okinawa Electric Power Co, Inc		1,496
	295,400	*	Olympus Corp		5,767
	75,302		Omron Corp		1,447
	80,398	e	Ono Pharmaceutical Co Ltd		4,947
	2,803		Oracle Corp Japan		144
	43,917	e	Oriental Land Co Ltd		5,782
	270,791	e	ORIX Corp		27,122
	680,881	e	Osaka Gas Co Ltd		2,996
	106,300		OSG Corp		1,476
	1,887		Otsuka Corp		169
	182,600		Otsuka Holdings KK		5,659
	806,900	e	Park24 Co Ltd		13,185
	100		Premier Investment Co		383
	284,200		Rakuten, Inc		2,890
	242,830		Resona Holdings, Inc		994
	74,581	e	Ricoh Co Ltd		630
	10,599	e	Rinnai Corp		791
	21,124		Rohm Co Ltd		711
	76,100	e	Sanden Corp		229
	3,880		Sankyo Co Ltd		181
	285,500	e	Sanrio Co Ltd		10,211
	9,156		Santen Pharmaceutical Co Ltd		420
	17,240	e	SBI Holdings, Inc		111
	62,634		Secom Co Ltd		3,265
	65,743		Sega Sammy Holdings, Inc		1,241
	10,483	e	Seiko Epson Corp		64
	51,951		Sekisui Chemical Co Ltd		418
	61,920		Sekisui House Ltd		615
	368,681		Seven & I Holdings Co Ltd		11,298
	41,600		Seven Bank Ltd		127
	78,106	e	Sharp Corp		193
	21,719	e	Shikoku Electric Power Co, Inc		245
	29,982	e	Shimadzu Corp		210
	1,697		Shimamura Co Ltd		198
	5,781		Shimano, Inc		420
	71,062	e	Shimizu Corp		239
	85,300		Shin-Etsu Chemical Co Ltd		4,794
	87,649		Shinsei Bank Ltd		113
	37,573	e	Shionogi & Co Ltd		573
	28,385	e	Shiseido Co Ltd		389
	182,301		Shizuoka Bank Ltd		1,865
	12,000	*	Shoei Co Ltd		73
	176,654		Showa Denko KK		280

204

COLLEGE RETIREMENT EQUITIES FUND - Global Equities Account

SHARES			COMPANY	VALUE (000)
	22,973		Showa Shell Sekiyu KK	$	122
	6,688	e	SMC Corp		1,076
	355,060		Softbank Corp		14,356
	154,936	e	Sojitz Holdings Corp		200
	212,502	e	Sony Corp		2,485
	21,900		Sony Financial Holdings, Inc		373
	81,499	e	Square Enix Co Ltd		1,242
	17,715		Stanley Electric Co Ltd		262
	14,276	*	Sumco Corp		96
	189,883	e	Sumitomo Chemical Co Ltd		484
	421,463	e	Sumitomo Corp		5,670
	150,776		Sumitomo Electric Industries Ltd		1,595
	70,625		Sumitomo Heavy Industries Ltd		241
	2,036,400		Sumitomo Metal Industries Ltd		2,988
	115,264		Sumitomo Metal Mining Co Ltd		1,450
	1,056,479	e	Sumitomo Mitsui Financial Group, Inc		32,918
	480,396	e	Sumitomo Realty & Development Co Ltd		12,730
	421,063		Sumitomo Rubber Industries, Inc		5,007
	250,654	e	Suruga Bank Ltd		2,841
	8,687		Suzuken Co Ltd		288
	58,422	e	Suzuki Motor Corp		1,135
	21,300		Sysmex Corp		1,024
	204,500		T&D Holdings, Inc		2,208
	1,545,910		Taiheiyo Cement Corp		3,328
	125,743	e	Taisei Corp		360
	58,200	e	Taisho Pharmaceutical Holdings Co Ltd		4,734
	30,357	e	Taiyo Nippon Sanso Corp		160
	110,718		Takashimaya Co Ltd		759
	335,348	e	Takeda Pharmaceutical Co Ltd		15,429
	423,000		Tamron Co Ltd		12,915
	80,481		Tanabe Seiyaku Co Ltd		1,221
	43,727	e	TDK Corp		1,626
	2,569,613	e	Teijin Ltd		6,279
	51,576	e	Terumo Corp		2,218
	61,276		THK Co Ltd		936
	324,878	e	Tobu Railway Co Ltd		1,748
	14,075		Toho Co Ltd		259
	53,000	e	Toho Gas Co Ltd		352
	55,715	*	Tohoku Electric Power Co, Inc		448
	171,260	*	Tokyo Electric Power Co, Inc		282
	50,410		Tokyo Electron Ltd		2,147
	2,102,924		Tokyo Gas Co Ltd		11,564
	395,852		Tokyu Corp		1,891
	54,414		Tokyu Land Corp		291
	106,626		TonenGeneral Sekiyu KK		925
	69,427	e	Toppan Printing Co Ltd		403
	459,664	e	Toray Industries, Inc		2,719
	1,992,481	e	Toshiba Corp		6,386
	963,647	e	Tosoh Corp		1,830
	34,681	e	Toto Ltd		255
	18,739		Toyo Seikan Kaisha Ltd		200
	40,099		Toyo Suisan Kaisha Ltd		1,003

205

COLLEGE RETIREMENT EQUITIES FUND - Global Equities Account

SHARES			COMPANY	VALUE (000)
	8,097	e	Toyoda Gosei Co Ltd	$	162
	8,000	e	Toyota Boshoku Corp		83
	44,161		Toyota Industries Corp		1,236
	2,143,548		Toyota Motor Corp		84,047
	26,594	e	Toyota Tsusho Corp		568
	8,028		Trend Micro, Inc		224
	100,974	e	Tsumura & Co		3,159
	351,932		UBE Industries Ltd		756
	88,451	e	Uni-Charm Corp		5,071
	716,500	e	United Arrows Ltd		19,131
	318,484		Ushio, Inc		3,820
	1,693	e	USS Co Ltd		179
	41,000		West Japan Railway Co		1,751
	5,073	e	Yahoo! Japan Corp		1,930
	44,477	e	Yakult Honsha Co Ltd		2,109
	6,749	e	Yamada Denki Co Ltd		296
	16,666		Yamaguchi Financial Group, Inc		135
	12,388		Yamaha Corp		115
	31,383		Yamaha Motor Co Ltd		274
	5,300		Yamato Kogyo Co Ltd		156
	48,055	e	Yamato Transport Co Ltd		760
	13,553		Yamazaki Baking Co Ltd		181
	28,384	e	Yaskawa Electric Corp		189
	26,610		Yokogawa Electric Corp		307
			TOTAL JAPAN		1,049,543
JERSEY C.I. - 0.0%
	8,679		Randgold Resources Ltd		1,068
			TOTAL JERSEY C.I.		1,068
KOREA, REPUBLIC OF - 0.3%
	226,600		Hotel Shilla Co Ltd		11,262
	28,797		Hyundai Motor Co		6,495
	73,131		KB Financial Group, Inc		2,592
	22,100		Samsung Electronics Co Ltd		26,633
	100,000		Samsung Heavy Industries Co Ltd		3,360
			TOTAL KOREA, REPUBLIC OF		50,342
LUXEMBOURG - 0.0%
	88,823		ArcelorMittal		1,278
	6,809		Millicom International Cellular S.A.		632
	28,704		SES Global S.A.		781
	46,584		Tenaris S.A.		953
			TOTAL LUXEMBOURG		3,644
MACAU - 0.2%
	9,771,800		Sands China Ltd		36,179
	142,000	e	Wynn Macau Ltd		381
			TOTAL MACAU		36,560
MALAYSIA - 0.1%
	1,151,800		Public Bank BHD		5,413
	1,500,000		UMW Holdings BHD		4,899
	33,959		YNH Property BHD		20
			TOTAL MALAYSIA		10,332
MEXICO - 0.3%
	3,500,000		Alfa S.A. de C.V. (Class A)		6,461
	685,805		Fresnillo plc		20,584
	1,800,000	*,e	Genomma Lab Internacional S.A. de C.V.		3,481
	189,728		Grupo Financiero Santander Mexico SAB de C.V. (ADR)		2,599
	621,000		Grupo Modelo S.A. (Series C)		5,598
			TOTAL MEXICO		38,723

206

COLLEGE RETIREMENT EQUITIES FUND - Global Equities Account

SHARES			COMPANY	VALUE (000)
NETHERLANDS - 1.7%
	920,342		Aegon NV	$	4,785
	23,113		Akzo Nobel NV		1,305
	42,109		ASML Holding NV		2,252
	6,129		Boskalis Westminster		221
	6,094		Corio NV		259
	3,807,935	*	D.E Master Blenders 1753 NV		45,919
	4,894		Delta Lloyd NV		74
	73,432		DSM NV		3,663
	142,727		European Aeronautic Defence and Space Co		4,524
	6,711		Fugro NV		456
	149,926		Gemalto NV		13,186
	10,213		Heineken Holding NV		496
	23,368		Heineken NV		1,393
	3,147,127	*	ING Groep NV		24,926
	610,356		Koninklijke Ahold NV		7,645
	100,454		Koninklijke Philips Electronics NV		2,345
	3,463		Koninklijke Vopak NV		243
	22,098	*	Qiagen NV		407
	11,070		Randstad Holdings NV		368
	209,613		Reed Elsevier NV		2,796
	1,817,355		Royal Dutch Shell plc (A Shares)		62,982
	833,800		Royal Dutch Shell plc (B Shares)		29,671
	111,628		Royal KPN NV		850
	15,580	*	SBM Offshore NV		222
	32,579		TNT Express NV		340
	374,578		Unilever NV		13,285
	29,263		Wolters Kluwer NV		550
	649,982		Ziggo NV		22,097
			TOTAL NETHERLANDS		247,260
NEW ZEALAND - 0.0%
	122,946		Auckland International Airport Ltd		267
	48,309	*	Contact Energy Ltd		211
	89,983	e	Fletcher Building Ltd		518
	77,676		Sky City Entertainment Group Ltd		243
	262,972		Telecom Corp of New Zealand Ltd		518
			TOTAL NEW ZEALAND		1,757
NORWAY - 0.3%
	7,310		Aker Kvaerner ASA		139
	2,703,870		DNB NOR Holding ASA		33,122
	10,246		Gjensidige Forsikring BA		143
	92,780		Norsk Hydro ASA		436
	78,645		Orkla ASA		599
	31,161	e	SeaDrill Ltd		1,224
	110,385		Statoil ASA		2,849
	76,816		Telenor ASA		1,499
	88,792		Yara International ASA		4,459
			TOTAL NORWAY		44,470

207

COLLEGE RETIREMENT EQUITIES FUND - Global Equities Account

SHARES			COMPANY	VALUE (000)
PHILIPPINES - 0.1%
	5,000,000		Aboitiz Power Corp	$	4,018
	3,771,610		Metropolitan Bank & Trust		8,355
			TOTAL PHILIPPINES		12,373
PORTUGAL - 0.0%
	130,996	*	Banco Espirito Santo S.A.		95
	93,535		Energias de Portugal S.A.		257
	19,628		Galp Energia SGPS S.A.		318
	21,943		Jeronimo Martins SGPS S.A.		366
	60,398		Portugal Telecom SGPS S.A.		299
			TOTAL PORTUGAL		1,335
RUSSIA - 0.0%
	550,000		Sberbank of Russian Federation (ADR)		6,481
			TOTAL RUSSIA		6,481
SINGAPORE - 0.5%
	238,473		Ascendas Real Estate Investment Trust		467
	3,800,000	e	CapitaCommercial Trust		4,617
	886,082		CapitaLand Ltd		2,282
	728,362		CapitaMall Trust		1,195
	125,000		CapitaMalls Asia Ltd		167
	166,868		City Developments Ltd		1,588
	170,028		ComfortDelgro Corp Ltd		237
	632,025		DBS Group Holdings Ltd		7,382
	281,604	*	Flextronics International Ltd		1,690
	83,103		Fraser and Neave Ltd		599
	557,384	e	Genting International plc		620
	6,243,800		Global Logistic Properties		12,727
	611,497		Golden Agri-Resources Ltd		327
	514,000		Hotel Properties Ltd		1,156
	9,082		Jardine Cycle & Carriage Ltd		355
	410,425		Keppel Corp Ltd		3,795
	1,509,000		Keppel Land Ltd		4,342
	26,000		K-Green Trust		22
	78,465	*,e	Neptune Orient Lines Ltd		72
	133,155	e	Olam International Ltd		221
	490,699		Oversea-Chinese Banking Corp		3,722
	788,609		SembCorp Industries Ltd		3,623
	362,857	e	SembCorp Marine Ltd		1,460
	151,492	e	Singapore Airlines Ltd		1,322
	267,560		Singapore Exchange Ltd		1,521
	511,963	e	Singapore Press Holdings Ltd		1,695
	462,896		Singapore Technologies Engineering Ltd		1,332
	2,582,704		Singapore Telecommunications Ltd		6,725
	52,274		StarHub Ltd		158
	310,022		United Overseas Bank Ltd		4,944
	1,565,965		United Overseas Land Ltd		7,289
	173,230	e	Wilmar International Ltd		457
			TOTAL SINGAPORE		78,109

208

COLLEGE RETIREMENT EQUITIES FUND - Global Equities Account

SHARES			COMPANY	VALUE (000)
SOUTH AFRICA - 0.2%
	900,000		African Bank Investments Ltd	$	3,581
	2,712,100	e	Life Healthcare Group Holdings Pte Ltd		10,361
	220,000		Mr Price Group Ltd		3,330
	900,000		Sanlam Ltd		4,067
	110,000		Sasol Ltd		4,905
	500,000		Woolworths Holdings Ltd		3,651
			TOTAL SOUTH AFRICA		29,895
SPAIN - 0.9%
	33,965		Abertis Infraestructuras S.A. (Continuous)		501
	2,423		Acciona S.A.		138
	11,083	e	Acerinox S.A.		124
	14,519	e	ACS Actividades Cons y Servicios S.A.		299
	870,715		Amadeus IT Holding S.A.		20,300
	1,604,672	e	Banco Bilbao Vizcaya Argentaria S.A.		12,625
	181,818	*	Banco de Sabadell S.A.		489
	100,992	e	Banco Popular Espanol S.A.		221
	3,351,655	*	Banco Santander Central Hispano S.A.		25,018
	44,107	*,e	Bankia SAU		74
	39,689		Cintra Concesiones de Infraestructuras de Transporte S.A.		517
	74,210		Corp Mapfre S.A.		203
	82,358		Criteria Caixacorp S.A.		310
	3,106,011		Distribuidora Internacional de Alimentacion S.A.		17,153
	9,785		Enagas		193
	195,600		Endesa S.A.		3,761
	19,214		Gas Natural SDG S.A.		272
	13,243	e	Grifols S.A.		438
	1,495,781		Iberdrola S.A.		6,782
	218,470		Inditex S.A.		27,146
	950,000		Prosegur Cia de Seguridad S.A.		4,351
	5,372		Red Electrica de Espana		255
	76,748		Repsol YPF S.A.		1,492
	1,005,146		Telefonica S.A.		13,434
	14,048	e	Zardoya Otis S.A.		165
			TOTAL SPAIN		136,261
SWEDEN - 0.9%
	34,870		Alfa Laval AB		634
	17,093		Assa Abloy AB (Class B)		555
	66,348		Atlas Copco AB (A Shares)		1,550
	38,497		Atlas Copco AB (B Shares)		807
	600,000	*	Biovitrum AB		3,363
	214,232		Boliden AB		3,583
	969,523		Electrolux AB (Series B)		23,956
	671,348	e	Elekta AB (B Shares)		8,863
	296,124		Ericsson (LM) (B Shares)		2,701
	20,381		Getinge AB (B Shares)		615
	342,514		Hennes & Mauritz AB (B Shares)		11,921

209

COLLEGE RETIREMENT EQUITIES FUND - Global Equities Account

SHARES			COMPANY		VALUE (000)
	11,762		Hexagon AB (B Shares)	$	253
	5,086		Holmen AB (B Shares)		139
	39,190		Husqvarna AB (B Shares)		200
	5,908		Industrivarden AB		85
	470,800		Intrum Justitia AB		6,881
	45,074		Investor AB (B Shares)		993
	11,284		Kinnevik Investment AB (Series B)		235
	11,119	*	Lundin Petroleum AB		272
	2,472		Modern Times Group AB (B Shares)		109
	288,028		Nordea Bank AB		2,851
	9,597	e	Ratos AB (B Shares)		85
	284,425		Sandvik AB		3,868
	32,504		Scania AB (B Shares)		598
	29,744		Securitas AB (B Shares)		223
	144,954		Skandinaviska Enskilda Banken AB (Class A)		1,215
	39,071		Skanska AB (B Shares)		634
	260,394		SKF AB (B Shares)		5,627
	13,295	e	Ssab Svenskt Stal AB (Series A)		95
	56,752		Svenska Cellulosa AB (B Shares)		1,055
	48,457		Svenska Handelsbanken (A Shares)		1,818
	267,051		Swedbank AB (A Shares)		5,023
	898,858		Swedish Match AB		36,387
	30,023		Tele2 AB (B Shares)		545
	217,433		TeliaSonera AB		1,565
	330,000		Trelleborg AB (B Shares)		3,717
	123,293		Volvo AB (B Shares)		1,732
			TOTAL SWEDEN		134,753
SWITZERLAND - 2.7%
	167,493		ABB Ltd		3,143
	10,171		Actelion Ltd		510
	311,574		Adecco S.A.		14,873
	8,007		Aryzta AG.		384
	4,925		Baloise Holding AG.		388
	112		Banque Cantonale Vaudoise		58
	89		Barry Callebaut AG.		83
	100,000		Clariant AG.		1,191
	438,367		Compagnie Financiere Richemont S.A.		26,321
	213,579		Credit Suisse Group		4,516
	3,976		Geberit AG.		866
	4,686		Givaudan S.A.		4,449
	195,512	e	Glencore International AG.		1,086
	426,966		Holcim Ltd		27,194
	10,578		Julius Baer Group Ltd		369
	9,418		Julius Baer Holding AG.		123
	5,284		Kuehne & Nagel International AG.		598
	81		Lindt & Spruengli AG.		256
	10		Lindt & Spruengli AG. (Reg)		361
	47,748		Lonza Group AG.		2,499
	1,310,997		Nestle S.A.		82,720
	707,083		Novartis AG.		43,276
	2,566		Pargesa Holding S.A.		170

210

COLLEGE RETIREMENT EQUITIES FUND - Global Equities Account

SHARES			COMPANY	VALUE (000)
	651		Partners Group	$	135
	4,634		Phonak Holding AG.		469
	382,622		Roche Holding AG.		71,568
	2,607		Schindler Holding AG.		321
	1,086		Schindler Holding AG. (Reg)		134
	503		SGS S.A.		1,034
	117		Sika AG.		239
	62,907		ST Microelectronics NV		340
	834	e	Straumann Holding AG.		111
	1,240		Sulzer AG.		181
	3,256		Swatch Group AG.		1,300
	3,084		Swatch Group AG. Reg		215
	3,079		Swiss Life Holding		368
	2,361		Swiss Prime Site AG.		195
	522,073		Swiss Re Ltd		33,591
	2,334		Swisscom AG.		940
	161,641		Syngenta AG.		60,467
	114,842		Tyco Electronics Ltd		3,906
	18,104		Transocean Ltd		811
	616,901		UBS AG. (Switzerland)		7,512
	14,537		Zurich Financial Services AG.		3,624
			TOTAL SWITZERLAND		402,895
TAIWAN - 0.2%
	613,000		Cleanaway Co Ltd		4,477
	2,000,000		Far EasTone Telecommunications Co Ltd		4,935
	981,000		King Slide Works Co Ltd		5,607
	4,000,000		Pou Chen Corp		4,078
	1,200,000		Taiwan Mobile Co Ltd		4,376
	360,000		Taiwan Semiconductor Manufacturing Co Ltd		1,108
	350,000		TPK Holding Co Ltd		4,575
	1,300,000		WPG Holdings Co Ltd		1,725
	1,084,000		Zhen Ding Technology Holding Ltd		3,399
			TOTAL TAIWAN		34,280
THAILAND - 0.2%
	850,000		Bangkok Bank PCL (ADR)		5,344
	5,538,000		Bank of Ayudhya PCL - NVDR		5,602
	269,437		Banpu PCL		3,423
	3,859,400		Indorama Ventures PCL (Foreign)		3,605
	1,157,000		Kasikornbank PCL - NVDR		6,843
	7,600,000		Krung Thai Bank PCL		4,507
	2,601,654		PTT Global Chemical PCL		5,318
			TOTAL THAILAND		34,642
TURKEY - 0.2%
	820,000		Arcelik AS		4,367
	2,368,000		Enka Insaat ve Sanayi AS		5,936
	500,000		Ford Otomotiv Sanayi AS		5,173
	400,000		Koza Altin Isletmeleri AS		8,578
	1,177,700		TAV Havalimanlari Holding AS		5,835
	930,000		Tofas Turk Otomobil Fabrik		4,704
			TOTAL TURKEY		34,593
UKRAINE - 0.1%
	569,454	*,f	MHP SA (GDR) (purchased 01/07/11, cost $9,881)		8,306
			TOTAL UKRAINE		8,306

211

COLLEGE RETIREMENT EQUITIES FUND - Global Equities Account

SHARES			COMPANY	VALUE (000)
UNITED KINGDOM - 8.7%
	97,637		3i Group plc	$	352
	46,986		Aberdeen Asset Management plc		236
	14,365	e	Acergy S.A.		332
	18,548		Admiral Group plc		316
	2,400,000	*	Afren plc		5,453
	1,220,037	e	Aggreko plc		45,672
	16,405		AMEC plc		304
	260,121		Anglo American plc (London)		7,658
	1,739,953		Antofagasta plc		35,586
	1,270,421		ARM Holdings plc		11,858
	3,494,250		Ashtead Group plc		18,333
	229,723	*,e	ASOS plc		8,157
	583,206		Associated British Foods plc		12,152
	133,007		AstraZeneca plc		6,350
	635		AstraZeneca plc (ADR)		30
	1,122,234	*,e	Avanti Communications Group plc		6,329
	562,461		Aveva Group plc		17,896
	279,848		Aviva plc		1,446
	2,086,906		AZ Electronic Materials S.A.		11,422
	17,965		Babcock International Group		269
	334,293		BAE Systems plc		1,758
	68,913		Balfour Beatty plc		339
	21,030,935		Barclays plc		73,032
	3,787,952		BG Group plc		76,648
	1,003,162		BHP Billiton plc		31,327
	4,352,601		BP plc		30,685
	3,169		BP plc (ADR)		134
	494,951		British American Tobacco plc		25,432
	634,730		British Land Co plc		5,361
	2,216,753		British Sky Broadcasting plc		26,607
	5,588,185		BT Group plc		20,831
	316,321		Bunzl plc		5,673
	452,790		Burberry Group plc		7,332
	33,719		Capita Group plc		422
	9,236		Carnival plc		340
	5,408,663		Centrica plc		28,621
	3,403,157		Cobham plc		12,207
	184,138		Compass Group plc		2,036
	452,497		Croda International plc		17,763
	32,827	*	Delphi Automotive plc		1,018
	1,571,576		Diageo plc		44,253
	73,396		Ensco plc		4,004
	12,661		Eurasian Natural Resources Corp		63
	11,214		Evraz plc		45
	1,404,705		Experian Group Ltd		23,389
	83,393		GKN plc		290
	1,082,649		GlaxoSmithKline plc		24,990
	130,699		Group 4 Securicor plc		561
	71,693		Hammerson plc		523
	6,864,661		HSBC Holdings plc		63,771
	54,838		ICAP plc		285

212

COLLEGE RETIREMENT EQUITIES FUND - Global Equities Account

SHARES			COMPANY	VALUE (000)
	1,974,086	*	Imagination Technologies Group plc	$	15,165
	17,590		IMI plc		256
	182,262		Imperial Tobacco Group plc		6,752
	21,985		Inmarsat plc		210
	27,032		Intercontinental Hotels Group plc		710
	62,468	*	International Consolidated Airlines		150
	8,218		Intertek Group plc		364
	992,812		Invensys plc		3,764
	48,786		Investec plc		302
	198,448		ITV plc		284
	117,863		J Sainsbury plc		662
	11,223		Johnson Matthey plc		438
	11,128		Kazakhmys plc		125
	122,469		Kingfisher plc		524
	900,000		Ladbrokes plc		2,514
	75,714		Land Securities Group plc		933
	11,261,541		Legal & General Group plc		24,042
	52,024	e	Liberty International plc		276
	3,178,916	*	Lloyds TSB Group plc		2,002
	16,948		London Stock Exchange Group plc		259
	8,378	e	Lonmin plc		76
	177,357		Man Group plc		237
	83,470		Marks & Spencer Group plc		482
	41,790		Meggitt plc		267
	64,846		Melrose plc		254
	540,000		Mondi plc		5,509
	8,407,850	*,e	Monitise plc		4,888
	444,588		National Grid plc		4,904
	394,861		Next plc		22,029
	468,851		Old Mutual plc		1,290
	908,386		Pearson plc		17,758
	22,923		Petrofac Ltd		592
	3,224,354		Prudential plc		41,869
	193,203		Reckitt Benckiser Group plc		11,131
	62,879		Reed Elsevier plc		602
	80,161		Resolution Ltd		281
	85,582		Rexam plc		602
	1,300,218		Rio Tinto plc		60,797
	84,220	e	Rio Tinto plc (ADR)		3,938
	2,037,350		Rolls-Royce Group plc		27,793
	337,680	e	Royal & Sun Alliance Insurance Group plc		604
	187,680		Royal Bank of Scotland Group plc		780
	69,361		SABMiller plc		3,052
	126,516		Sage Group plc		641
	11,287		Schroders plc		277
	92,305		Scottish & Southern Energy plc		2,077
	73,210		Segro plc		269
	47,936		Serco Group plc		450
	23,123		Severn Trent plc		627

213

COLLEGE RETIREMENT EQUITIES FUND - Global Equities Account

SHARES			COMPANY	VALUE (000)
	278,400		Signet Jeweler Ltd	$	13,575
	88,036		Smith & Nephew plc		971
	370,763		Smiths Group plc		6,228
	180,000		Spectris plc		5,031
	2,359,091		Standard Chartered plc		53,454
	224,967		Standard Life plc		993
	22,587		Tate & Lyle plc		243
	1,552,673		Telecity Group plc		22,484
	668,918		Tesco plc		3,592
	48,136		TUI Travel plc		182
	2,556,147		Tullow Oil plc		56,706
	522,173		Unilever plc		19,066
	67,128		United Utilities Group plc		776
	175,000		Victrex plc		3,745
	245,106	e	Virgin Media Inc		7,216
	20,093,556		Vodafone Group plc		57,098
	2,611		Vodafone Group plc (ADR)		74
	10,642	e	Weir Group plc		305
	142,269		Whitbread plc		5,218
	900,000		William Hill plc		4,611
	220,286		WM Morrison Supermarkets plc		1,016
	730,391		Wolseley plc		31,243
	206,932		Xstrata plc		3,210
			TOTAL UNITED KINGDOM		1,290,736
UNITED STATES - 54.6%
	111,576		3M Co		10,312
	57,500		A.O. Smith Corp		3,309
	876,452		Abbott Laboratories		60,090
	39,566		Abercrombie & Fitch Co (Class A)		1,342
	685,612		Accenture plc		48,013
	796,123		ACE Ltd		60,187
	485,487		Activision Blizzard, Inc		5,476
	256,564	*	Adobe Systems, Inc		8,328
	43,929		Advance Auto Parts, Inc		3,007
	58,999	*,e	Advanced Micro Devices, Inc		199
	1,842	*	Aecom Technology Corp		39
	114,958	*	AES Corp		1,261
	189,024		Aetna, Inc		7,485
	50,134	*	Affiliated Managers Group, Inc		6,166
	81,762		Aflac, Inc		3,915
	120,351	*	AGCO Corp		5,714
	137,011		Agilent Technologies, Inc		5,268
	37,417		Air Products & Chemicals, Inc		3,094
	6,451		Airgas, Inc		531
	18,829	*	Akamai Technologies, Inc		720
	9,612		Albemarle Corp		506
	107,508		Alcoa, Inc		951
	157,938	*	Alexion Pharmaceuticals, Inc		18,068
	1,201	*	Alleghany Corp		414

214

COLLEGE RETIREMENT EQUITIES FUND - Global Equities Account

SHARES		COMPANY		VALUE (000)
10,239		Allegheny Technologies, Inc	$	327
198,946		Allergan, Inc		18,219
72,718	*	Alliance Data Systems Corp		10,322
57,330		Alliant Energy Corp		2,488
19,380		Allied World Assurance Co Holdings Ltd		1,497
1,223	*	Allscripts Healthcare Solutions, Inc		15
124,873		Allstate Corp		4,946
63,000	*	Alpha Natural Resources, Inc		414
32,793		Altera Corp		1,114
404,178		Altria Group, Inc		13,496
145,820	*	Amazon.com, Inc		37,085
93,366		AMB Property Corp		3,271
1,154	*	AMC Networks, Inc		50
3,779	*	Amdocs Ltd		125
60,558		Ameren Corp		1,978
106,785		American Capital Agency Corp		3,694
3,334		American Eagle Outfitters, Inc		70
78,179		American Electric Power Co, Inc		3,435
296,807		American Express Co		16,876
33,900		American Financial Group, Inc		1,285
112,627	*	American International Group, Inc		3,693
275,944		American Tower Corp		19,700
72,711		American Water Works Co, Inc		2,695
58,477		Ameriprise Financial, Inc		3,315
44,474		AmerisourceBergen Corp		1,722
89,125		Ametek, Inc		3,159
710,597		Amgen, Inc		59,918
63,644		Amphenol Corp (Class A)		3,747
394,635		Anadarko Petroleum Corp		27,593
76,330		Analog Devices, Inc		2,991
226,143		Annaly Capital Management, Inc		3,808
10,110	*	Annie’s, Inc		453
9,694	*	Ansys, Inc		712
171,769		Aon plc		8,982
228,445		Apache Corp		19,754
10,181	*	Apollo Group, Inc (Class A)		296
619,107		Apple, Inc		413,105
194,034		Applied Materials, Inc		2,166
61,340	*	Arch Capital Group Ltd		2,557
218,690		Archer Daniels Midland Co		5,944
97,149	*	Arrow Electronics, Inc		3,275
306,819		Ashland, Inc		21,968
18,330		Assurant, Inc		684
3,546,985		AT&T, Inc		133,721
48,374	*	Autodesk, Inc		1,614
17,283		Autoliv, Inc		1,071
72,334		Automatic Data Processing, Inc		4,243
1,375	*,e	Autonation, Inc		60
16,902	*	Autozone, Inc		6,248
533,999		Avago Technologies Ltd		18,618
15,264		AvalonBay Communities, Inc		2,076
11,080		Avery Dennison Corp		353

215

COLLEGE RETIREMENT EQUITIES FUND - Global Equities Account

SHARES			COMPANY	VALUE (000)
	17,381	*	Avnet, Inc	$	506
	67,120		Avon Products, Inc		1,071
	320,813		Axis Capital Holdings Ltd		11,203
	2,258	*	Babcock & Wilcox Co		58
	120,146		Baker Hughes, Inc		5,434
	40,277		Ball Corp		1,704
	4,197,055		Bank of America Corp		37,060
	142,363		Bank of New York Mellon Corp		3,220
	32,176		Bard (C.R.), Inc		3,367
	340,000		Barnes Group, Inc		8,503
	667,542		Baxter International, Inc		40,226
	184,325		BB&T Corp		6,112
	325,268		Beam, Inc		18,716
	32,783		Becton Dickinson & Co		2,575
	192,004	*	Bed Bath & Beyond, Inc		12,096
	709,775	*	Berkshire Hathaway, Inc (Class B)		62,602
	158,720		Best Buy Co, Inc		2,728
	85,594	*	Biogen Idec, Inc		12,773
	40,000	*	BioMarin Pharmaceuticals, Inc		1,611
	380	*	Bio-Rad Laboratories, Inc (Class A)		41
	38,988		BlackRock, Inc		6,952
	882,082		Blackstone Group LP		12,596
	67,397	*	BMC Software, Inc		2,796
	779,844		Boeing Co		54,293
	133,908	*	BorgWarner, Inc		9,254
	24,745		Boston Properties, Inc		2,737
	225,689	*	Boston Scientific Corp		1,295
	39,900		Brinker International, Inc		1,408
	344,814		Bristol-Myers Squibb Co		11,637
	620,088		Broadcom Corp (Class A)		21,443
	130,511	e	Brookfield Office Properties, Inc. (Toronto)		2,169
	24,926		Brown-Forman Corp (Class B)		1,626
	50,411		Bunge Ltd		3,380
	34,372		CA, Inc		886
	32,589		Cablevision Systems Corp (Class A)		517
	281,819		Cabot Oil & Gas Corp		12,654
	97,000	*	CACI International, Inc (Class A)		5,024
	71,912	*	Calpine Corp		1,244
	16,020		Camden Property Trust		1,033
	65,182	*	Cameron International Corp		3,655
	18,845	e	Campbell Soup Co		656
	308,865		Capital One Financial Corp		17,608
	137,143		Cardinal Health, Inc		5,344
	60,085	*	CareFusion Corp		1,706
	13,000		Carlisle Cos, Inc		675
	28,208	*	Carmax, Inc		798
	999,457		Carnival Corp		36,420
	20,000	*	Catamaran Corp		1,959
	27,849	*	Catamaran Corp (Toronto)		2,729
	237,244		Caterpillar, Inc		20,412
	47,159	*	CBRE Group, Inc		868
	517,979		CBS Corp (Class B)		18,818
	270,779		Celanese Corp (Series A)		10,265

216

COLLEGE RETIREMENT EQUITIES FUND - Global Equities Account

SHARES			COMPANY	VALUE (000)
	558,281	*	Celgene Corp	$	42,653
	1,975,877		Centerpoint Energy, Inc		42,086
	199,972		CenturyTel, Inc		8,079
	32,022	*	Cerner Corp		2,479
	71,120		CF Industries Holdings, Inc		15,806
	16,464		CH Robinson Worldwide, Inc		964
	130,000	*	Charles River Laboratories International, Inc		5,148
	250,663		Charles Schwab Corp		3,206
	8,848	*	Charter Communications, Inc		664
	68,082	e	Chesapeake Energy Corp		1,285
	1,428,126		Chevron Corp		166,462
	100,000	e	Chicago Bridge & Iron Co NV		3,809
	10,709	*	Chipotle Mexican Grill, Inc (Class A)		3,401
	37,244		Chubb Corp		2,841
	255,148		Church & Dwight Co, Inc		13,775
	567,000	*,e	Ciena Corp		7,711
	150,486		Cigna Corp		7,098
	8,860		Cimarex Energy Co		519
	35,371		Cincinnati Financial Corp		1,340
	77,023		Cintas Corp		3,193
	4,468,111		Cisco Systems, Inc		85,296
	18,926	*	CIT Group, Inc		746
	1,660,249		Citigroup, Inc		54,323
	55,624	*	Citrix Systems, Inc		4,259
	60,000	*	Clean Harbors, Inc		2,931
	300,040		Cleveland-Cliffs, Inc		11,741
	12,293		Clorox Co		886
	42,765		CME Group, Inc		2,450
	108,606		CMS Energy Corp		2,558
	111,316		Coach, Inc		6,236
	38,148	*	Cobalt International Energy, Inc		850
	2,119,878		Coca-Cola Co		80,407
	305,633		Coca-Cola Enterprises, Inc		9,557
	36,320	*	Cognizant Technology Solutions Corp (Class A)		2,539
	196,891		Colgate-Palmolive Co		21,111
	2,021,614		Comcast Corp (Class A)		72,313
	88,490		Comcast Corp (Special Class A)		3,079
	50,877		Comerica, Inc		1,580
	73,770		Computer Sciences Corp		2,376
	74,602		ConAgra Foods, Inc		2,058
	183,253	*	Concho Resources, Inc		17,363
	461,066		ConocoPhillips		26,364
	22,452		Consol Energy, Inc		675
	30,785		Consolidated Edison, Inc		1,844
	16,797	*	Constellation Brands, Inc (Class A)		543
	4,881	*	Continental Resources, Inc		375
	931		Con-Way, Inc		25
	32,703		Cooper Industries plc		2,455
	19,748		Core Laboratories NV		2,399
	194,719		Corning, Inc		2,561

217

COLLEGE RETIREMENT EQUITIES FUND - Global Equities Account

SHARES			COMPANY		VALUE (000)
	364,281		Costco Wholesale Corp	$	36,474
	1,199	*	Covance, Inc		56
	24,373		Coventry Health Care, Inc		1,016
	135,830		Covidien plc		8,071
	999		Crane Co		40
	10,162	*,e	Cree, Inc		259
	68,137	*	Crown Castle International Corp		4,368
	38,095	*	Crown Holdings, Inc		1,400
	585,758		CSX Corp		12,154
	119,345		Cummins, Inc		11,005
	799,904		CVS Corp		38,731
	270,585		Cytec Industries, Inc		17,729
	703,713		Danaher Corp		38,810
	12,697		Darden Restaurants, Inc		708
	51,568	*	DaVita, Inc		5,343
	67,391		Deere & Co		5,559
	315,909	*	Dell, Inc		3,115
	57,654	*	Delta Air Lines, Inc		528
	548,304	*	Denbury Resources, Inc		8,861
	39,124		Dentsply International, Inc		1,492
	67,513		Devon Energy Corp		4,085
	33,763	e	Diamond Offshore Drilling, Inc		2,222
	117,306		Dick’s Sporting Goods, Inc		6,082
	42,604	e	Digital Realty Trust, Inc		2,976
	97,385		Dillard’s, Inc (Class A)		7,043
	378,281	*	DIRECTV		19,845
	455,454		Discover Financial Services		18,095
	71,068	*	Discovery Communications, Inc (Class A)		4,238
	22,272	*	Discovery Communications, Inc (Class C)		1,248
	509,214		DISH Network Corp (Class A)		15,587
	4,223	*	Dolby Laboratories, Inc (Class A)		138
	233,459	*	Dollar General Corp		12,032
	195,428		Dollar Tree, Inc		9,434
	129,341		Dominion Resources, Inc		6,847
	18,380		Domtar Corp		1,439
	2,274		Douglas Emmett, Inc		52
	23,730		Dover Corp		1,412
	1,393,754		Dow Chemical Co		40,363
	127,296		DR Horton, Inc		2,627
	55,878		Dr Pepper Snapple Group, Inc		2,488
	113,747		DSW, Inc (Class A)		7,589
	65,287		DTE Energy Co		3,913
	208,106		Du Pont (E.I.) de Nemours & Co		10,461
	672,325		Duke Energy Corp		43,567
	66,729		Duke Realty Corp		981
	5,013		Dun & Bradstreet Corp		399
	63,980	*	E*Trade Financial Corp		564
	122,199		East West Bancorp, Inc		2,581
	56,763		Eastman Chemical Co		3,236
	38,946	e	Eaton Corp		1,841
	11,039		Eaton Vance Corp		320

218

COLLEGE RETIREMENT EQUITIES FUND - Global Equities Account

SHARES			COMPANY	VALUE (000)
	1,065,780	*	eBay, Inc	$	51,594
	607	*	EchoStar Corp (Class A)		17
	332,587		Ecolab, Inc		21,555
	204,473		Edison International		9,342
	25,950	*	Edwards Lifesciences Corp		2,786
	31,056	*	Electronic Arts, Inc		394
	203,463		Eli Lilly & Co		9,646
	859,132	*	EMC Corp		23,429
	122,315		Emerson Electric Co		5,904
	6,892		Energen Corp		361
	6,285		Energizer Holdings, Inc		469
	1,784	*	Engility Holdings, Inc		33
	31,383		Entergy Corp		2,175
	213,186		EOG Resources, Inc		23,887
	80,615		Equifax, Inc		3,755
	9,826	*	Equinix, Inc		2,025
	21,418		Equitable Resources, Inc		1,264
	49,988	e	Equity Residential		2,876
	131,914		Estee Lauder Cos (Class A)		8,122
	23,513		Everest Re Group Ltd		2,515
	138,152		Exelon Corp		4,915
	116,675		Expedia, Inc		6,748
	22,450		Expeditors International Washington, Inc		816
	508,588	*	Express Scripts Holding Co		31,873
	2,269,284	d	Exxon Mobil Corp		207,526
	54,171	*	F5 Networks, Inc		5,672
	44,610	*,e	Facebook, Inc		966
	19,759		Family Dollar Stores, Inc		1,310
	33,656		Fastenal Co		1,447
	25,994		Federal Realty Investment Trust		2,737
	235,980		FedEx Corp		19,969
	65,434		Fidelity National Information Services, Inc		2,043
	115,062		Fidelity National Title Group, Inc (Class A)		2,461
	536,387		Fifth Third Bancorp		8,319
	9,185		First Republic Bank		317
	990	*,e	First Solar, Inc		22
	153,163		FirstEnergy Corp		6,754
	55,819	*	Fiserv, Inc		4,132
	4,114	*,e	Five Below, Inc		161
	50,000	*	FleetCor Technologies, Inc		2,240
	15,949		Flir Systems, Inc		319
	20,103		Flowserve Corp		2,568
	37,082		Fluor Corp		2,087
	54,152		FMC Corp		2,999
	37,074	*	FMC Technologies, Inc		1,717
	457,475		Foot Locker, Inc		16,240
	3,688,484		Ford Motor Co		36,368
	96,185	*	Forest Laboratories, Inc		3,425
	97,400	*	Fortune Brands Home & Security, Inc		2,631
	4,874	*	Fossil, Inc		413

219

COLLEGE RETIREMENT EQUITIES FUND - Global Equities Account

SHARES			COMPANY	VALUE (000)
	45,357		Franklin Resources, Inc	$	5,673
	395,826		Freeport-McMoRan Copper & Gold, Inc (Class B)		15,667
	132,869	e	Frontier Communications Corp		651
	95,784	e	GameStop Corp (Class A)		2,011
	85,981		Gap, Inc		3,076
	18,550	e	Garmin Ltd		774
	50,762		General Dynamics Corp		3,356
	5,805,051		General Electric Co		131,833
	87,777		General Growth Properties, Inc		1,710
	111,073		General Mills, Inc		4,426
	4,461,000	*	General Motors Co		0	^
	158,725	*	General Motors Co		3,611
	18,159,000	*	General Motors Co		0	^
	19,417,463	*	General Motors Co		0	^
	530,757	*	General Motors Co		0	^
	29,845,445	*	General Motors Co		0	^
	26,439,985	*	General Motors Co		0	^
	18,106,794	*,e	General Motors Co		0	^
	69,850,000	*	General Motors Co		0	^
	61,921,000	*,e	General Motors Co		0	^
	13,592,224	*	General Motors Co		0	^
	32,141		Genuine Parts Co		1,962
	50,909	*	Genworth Financial, Inc (Class A)		266
	100,000		Georgia Gulf Corp		3,622
	430,853	*	Gilead Sciences, Inc		28,578
	1,562		Global Payments, Inc		65
	412,898		Goldman Sachs Group, Inc		46,938
	150,307	*	Goodyear Tire & Rubber Co		1,832
	166,116	*	Google, Inc (Class A)		125,335
	11,448	*,e	Green Mountain Coffee Roasters, Inc		272
	1,039		Guess?, Inc		26
	28,115		H&R Block, Inc		487
	1		H.B. Fuller Co		0	^
	32,162		H.J. Heinz Co		1,799
	957,323		Halliburton Co		32,252
	24,455		Harley-Davidson, Inc		1,036
	23,108		Harris Corp		1,184
	144,449		Hartford Financial Services Group, Inc		2,808
	18,461	e	Hasbro, Inc		705
	35,252		HCA Holdings, Inc		1,172
	71,731		HCP, Inc		3,191
	51,895		Health Care REIT, Inc		2,997
	2,198	*	Health Net, Inc		49
	26,849		Helmerich & Payne, Inc		1,278
	20,135	*	Henry Schein, Inc		1,596
	201,938		Herbalife Ltd		9,572
	204,124		Hershey Co		14,470
	603,888	*	Hertz Global Holdings, Inc		8,291
	82,778		Hess Corp		4,447
	1,230,214		Hewlett-Packard Co		20,987
	166,000		Hillshire Brands Co		4,445
	92,353		Holly Corp		3,811

220

COLLEGE RETIREMENT EQUITIES FUND - Global Equities Account

SHARES			COMPANY	VALUE (000)
	43,702	*	Hologic, Inc	$	885
	1,123,637		Home Depot, Inc		67,834
	1,047,012		Honeywell International, Inc		62,559
	15,063		Hormel Foods Corp		440
	27,958	*	Hospira, Inc		918
	113,482		Host Marriott Corp		1,821
	599	*,e	Hovnanian Enterprises, Inc (Class A)		2
	82,745		Hudson City Bancorp, Inc		659
	145,723		Humana, Inc		10,222
	374,152		Huntington Bancshares, Inc		2,582
	1,501	*	Huntington Ingalls		63
	72,479		Huntsman Corp		1,082
	188,300		IAC/InterActiveCorp		9,803
	11,479	*	IHS, Inc (Class A)		1,117
	469,756		Illinois Tool Works, Inc		27,936
	82,087	*,e	Illumina, Inc		3,957
	183,868		Ingersoll-Rand plc		8,241
	112,748		Ingredion, Inc		6,219
	16,908		Integrys Energy Group, Inc		883
	2,441,168		Intel Corp		55,366
	165,158	*	IntercontinentalExchange, Inc		22,034
	756,959		International Business Machines Corp		157,031
	7,906		International Flavors & Fragrances, Inc		471
	42,736		International Game Technology		559
	85,489		International Paper Co		3,105
	512,940		Interpublic Group of Cos, Inc		5,704
	130,744		Intuit, Inc		7,698
	13,778	*	Intuitive Surgical, Inc		6,829
	141,603		Invesco Ltd		3,539
	13,950		Iron Mountain, Inc		476
	1,276,174	e	iShares MSCI Canada Index Fund		36,320
	2,260,593		iShares MSCI EAFE Index Fund		119,812
	1,792,078	e	iShares MSCI Japan Index Fund		16,415
	40,900	*,e	ITT Educational Services, Inc		1,318
	32,786		J.B. Hunt Transport Services, Inc		1,706
	23,392		J.M. Smucker Co		2,019
	266,990		Jabil Circuit, Inc		4,998
	22,487	*	Jacobs Engineering Group, Inc		909
	323,376	e	Jarden Corp		17,087
	16,672	e	JC Penney Co, Inc		405
	698,000	*	JDS Uniphase Corp		8,645
	1,507,287		Johnson & Johnson		103,867
	546,074		Johnson Controls, Inc		14,962
	789		Jones Lang LaSalle, Inc		60
	160,555		Joy Global, Inc		9,001
	2,211,347		JPMorgan Chase & Co		89,515
	92,224	*	Juniper Networks, Inc		1,578
	51,841		Kansas City Southern Industries, Inc		3,929
	1,399	e	KB Home		20
	173,543		KBR, Inc		5,175
	36,562		Kellogg Co		1,889
	50,000		Kennametal, Inc		1,854

221

COLLEGE RETIREMENT EQUITIES FUND - Global Equities Account

SHARES			COMPANY	VALUE (000)
	195,042		Keycorp	$	1,705
	95,505		Kimberly-Clark Corp		8,192
	59,963	e	Kimco Realty Corp		1,215
	9,803		Kinder Morgan Management LLC		749
	214,389		Kinder Morgan, Inc		7,615
	999	*	Kirby Corp		55
	112,118		Kla-Tencor Corp		5,349
	275,000	*	Kodiak Oil & Gas Corp		2,574
	23,666		Kohl’s Corp		1,212
	1,676,670	*	Kraft Foods, Inc (Class A)		69,330
	384,483		Kroger Co		9,051
	20,505		L-3 Communications Holdings, Inc		1,470
	11,840	*	Laboratory Corp of America Holdings		1,095
	26,254	*	Lam Research Corp		834
	999		Landstar System, Inc		47
	284,207		Las Vegas Sands Corp		13,179
	1,039	*,e	Leap Wireless International, Inc		7
	13,388		Legg Mason, Inc		330
	30,064		Leggett & Platt, Inc		753
	2,821	e	Lennar Corp (Class A)		98
	22,452		Leucadia National Corp		511
	15,218	*	Level 3 Communications, Inc		350
	60,800	e	Lexmark International, Inc (Class A)		1,353
	56,587	*	Liberty Global, Inc (Class A)		3,438
	6,397	*	Liberty Global, Inc (Series C)		361
	22,172	*	Liberty Interactive LLC		2,310
	69,908		Liberty Media Holding Corp (Interactive A)		1,293
	15,705	e	Liberty Property Trust		569
	47,846	*	Life Technologies Corp		2,339
	284,624		Limited Brands, Inc		14,021
	34,094		Lincoln National Corp		825
	47,285		Linear Technology Corp		1,506
	12,637	*	LinkedIn Corp		1,522
	77,188		Lockheed Martin Corp		7,208
	42,689		Loews Corp		1,761
	320,534		Lorillard, Inc		37,326
	479,141		Lowe’s Companies, Inc		14,489
	70,397	*	LSI Logic Corp		486
	106,590		LyondellBasell Industries AF S.C.A		5,506
	11,502	e	M&T Bank Corp		1,095
	32,640		Macerich Co		1,868
	410,950		Macy’s, Inc		15,460
	1	*	Madison Square Garden, Inc		0	^
	8,318		Manpower, Inc		306
	322,041		Marathon Oil Corp		9,523
	150,690		Marathon Petroleum Corp		8,226
	54,700		Marriott International, Inc (Class A)		2,139
	236,148		Marsh & McLennan Cos, Inc		8,013
	5,651		Martin Marietta Materials, Inc		468
	88,341		Marvell Technology Group Ltd		808
	80,900		Masco Corp		1,218

222

COLLEGE RETIREMENT EQUITIES FUND - Global Equities Account

SHARES			COMPANY	VALUE (000)
	78,811		Mastercard, Inc (Class A)	$	35,582
	76,390		Mattel, Inc		2,710
	129,219		Maxim Integrated Products, Inc		3,440
	24,905		McCormick & Co, Inc		1,545
	4,517	*	McDermott International, Inc		55
	227,715		McDonald’s Corp		20,893
	213,586		McGraw-Hill Cos, Inc		11,660
	166,767		McKesson Corp		14,347
	679		MDC Holdings, Inc		26
	18,979		MDU Resources Group, Inc		418
	125,464		Mead Johnson Nutrition Co		9,194
	25,368		MeadWestvaco Corp		776
	184,119		Medtronic, Inc		7,939
	1,693,668		Merck & Co, Inc		76,385
	577,761		Metlife, Inc		19,910
	33,312	*	MetroPCS Communications, Inc		390
	657	*	Mettler-Toledo International, Inc		112
	32,927	*	MGM Mirage		354
	28,500	*	Michael Kors Holdings Ltd		1,516
	18,708	e	Microchip Technology, Inc		613
	1,434,734	*	Micron Technology, Inc		8,587
	4,473,364		Microsoft Corp		133,217
	12,091	*	Mohawk Industries, Inc		968
	15,492		Molson Coors Brewing Co (Class B)		698
	270,803		Monsanto Co		24,648
	93,616		Monster Beverage Corp		5,070
	20,540		Moody’s Corp		907
	783,384		Morgan Stanley		13,114
	61,640		Mosaic Co		3,551
	67,855		Motorola, Inc		3,430
	773		MSC Industrial Direct Co (Class A)		52
	49,127		Murphy Oil Corp		2,638
	298,338	*	Mylan Laboratories, Inc		7,279
	45,685	*	Nabors Industries Ltd		641
	13,515		Nasdaq Stock Market, Inc		315
	233,351		National Oilwell Varco, Inc		18,694
	1,239	*,e	Navistar International Corp		26
	132,646	*	NetApp, Inc		4,361
	10,647	*,e	NetFlix, Inc		580
	50,000	*	NeuStar, Inc (Class A)		2,002
	59,840	e	New York Community Bancorp, Inc		847
	30,161		Newell Rubbermaid, Inc		576
	12,413	*	Newfield Exploration Co		389
	59,533		Newmont Mining Corp		3,334
	196,543		News Corp (Class A)		4,821
	44,587		News Corp (Class B)		1,106
	125,381		NextEra Energy, Inc		8,818
	11,843	*	Nielsen Holdings NV		355
	306,397		Nike, Inc (Class B)		29,080
	125,007		NiSource, Inc		3,185
	118,240		Noble Corp		4,231
	47,912		Noble Energy, Inc		4,442

223

COLLEGE RETIREMENT EQUITIES FUND - Global Equities Account

SHARES			COMPANY	VALUE (000)
	140,988		Nordstrom, Inc	$	7,780
	68,792		Norfolk Southern Corp		4,377
	100,187		Northeast Utilities		3,830
	63,961		Northern Trust Corp		2,969
	48,693		Northrop Grumman Corp		3,235
	39,040		NRG Energy, Inc		835
	24,242	*	Nuance Communications, Inc		603
	64,965		Nucor Corp		2,486
	190,000		NV Energy, Inc		3,422
	64,913	*	Nvidia Corp		866
	5,392	*	NVR, Inc		4,554
	25,443		NYSE Euronext		627
	885,450		Occidental Petroleum Corp		76,202
	95,000	*	Ocwen Financial Corp		2,604
	12,581		Omnicare, Inc		427
	71,298		Omnicom Group, Inc		3,676
	49,033		Oneok, Inc		2,369
	40,000	*	Onyx Pharmaceuticals, Inc		3,380
	3,040,931		Oracle Corp		95,759
	82,423	*	O’Reilly Automotive, Inc		6,892
	623,543	*	Orient-Express Hotels Ltd (Class A)		5,550
	437	e	Overseas Shipholding Group, Inc		3
	303,139	*	Owens Corning, Inc		10,143
	18,853	*	Owens-Illinois, Inc		354
	52,231		Paccar, Inc		2,091
	20,432		Pall Corp		1,297
	4,936	*,e	Palo Alto Networks, Inc		304
	8,175	*	Panera Bread Co (Class A)		1,397
	116,762		Parker Hannifin Corp		9,759
	55,878		PartnerRe Ltd		4,151
	15,583		Patterson Cos, Inc		534
	46,226		Paychex, Inc		1,539
	54,621		Peabody Energy Corp		1,218
	432,000	*	Penn National Gaming, Inc		18,619
	27,827	e	Pentair, Inc.		1,239
	49,983		People’s United Financial, Inc		607
	33,155		Pepco Holdings, Inc		627
	885,513		PepsiCo, Inc		62,668
	2,171		PerkinElmer, Inc		64
	104,246		Perrigo Co		12,110
	190,162		Petsmart, Inc		13,117
	6,361,102		Pfizer, Inc		158,073
	49,638		PG&E Corp		2,118
	1,171,137		Philip Morris International, Inc		105,332
	218,684		Phillips 66		10,140
	86,447		Phillips-Van Heusen Corp		8,102
	64,718		Pinnacle West Capital Corp		3,417
	36,381		Pioneer Natural Resources Co		3,798
	32,934	e	Pitney Bowes, Inc		455
	13,232	*	Plains Exploration & Production Co		496
	27,361		Plum Creek Timber Co, Inc		1,200
	113,796		PNC Financial Services Group, Inc		7,181
	18,300		Polaris Industries, Inc		1,480

224

COLLEGE RETIREMENT EQUITIES FUND - Global Equities Account

SHARES			COMPANY	VALUE (000)
	140,970		PPG Industries, Inc	$	16,189
	70,424		PPL Corp		2,046
	45,058		Praxair, Inc		4,681
	87,406		Precision Castparts Corp		14,277
	14,091	*	Priceline.com, Inc		8,719
	257,360		Principal Financial Group		6,933
	40,000		ProAssurance Corp		3,618
	1,349,111		Procter & Gamble Co		93,574
	59,809		Progressive Corp		1,240
	479,318		Prudential Financial, Inc		26,128
	73,304		Public Service Enterprise Group, Inc		2,359
	53,445		Public Storage, Inc		7,438
	191,502	*	Pulte Homes, Inc		2,968
	50,000	*	QLIK Technologies, Inc		1,121
	910,245		Qualcomm, Inc		56,881
	437,274	*	Quanta Services, Inc		10,801
	18,979		Quest Diagnostics, Inc		1,204
	27,009		Questar Market Resources, Inc		855
	10,816	*	Rackspace Hosting, Inc		715
	10,812	*	Ralcorp Holdings, Inc		789
	12,850		Ralph Lauren Corp		1,943
	26,960		Range Resources Corp		1,884
	24,220		Rayonier, Inc		1,187
	346,103		Raytheon Co		19,783
	12,620	e	Realty Income Corp		516
	78,116	*	Red Hat, Inc		4,448
	12,725		Regency Centers Corp		620
	18,427	*	Regeneron Pharmaceuticals, Inc		2,813
	310,434		Regions Financial Corp		2,238
	76,464		RenaissanceRe Holdings Ltd		5,891
	93,000		Rent-A-Center, Inc		3,262
	60,973		Republic Services, Inc		1,677
	87,284		Reynolds American, Inc		3,783
	11,501	*	Rite Aid Corp		13
	15,908		Robert Half International, Inc		424
	6,874		Rock-Tenn Co (Class A)		496
	30,089		Rockwell Automation, Inc		2,093
	13,340		Rockwell Collins, Inc		716
	106,220		Roper Industries, Inc		11,673
	198,320		Ross Stores, Inc		12,811
	17,537	*	Rowan Cos PLC		592
	60,609		Royal Caribbean Cruises Ltd		1,831
	14,424	*	RRI Energy, Inc		36
	1,058		Ryder System, Inc		41
	34,068	e	Safeway, Inc		548
	57,226		SAIC, Inc		689
	26,574	*	Salesforce.com, Inc		4,058
	292,512	*	SanDisk Corp		12,704
	79,999	*	SBA Communications Corp (Class A)		5,032
	30,313	e	SCANA Corp		1,463
	847,165		Schlumberger Ltd		61,276
	117,450		Scripps Networks Interactive (Class A)		7,191

225

COLLEGE RETIREMENT EQUITIES FUND - Global Equities Account

SHARES			COMPANY	VALUE (000)
	171,508	e	Seagate Technology, Inc	$	5,317
	18,788		Sealed Air Corp		290
	3,616	e	Sears Holdings Corp		201
	30,635		SEI Investments Co		657
	179,460		Sempra Energy		11,573
	9,544	*	Sensata Technologies Holding BV		284
	400,000		Service Corp International		5,384
	1,559	*	Shaw Group, Inc		68
	61,578		Sherwin-Williams Co		9,170
	22,440		Sigma-Aldrich Corp		1,615
	244,263		Simon Property Group, Inc		37,082
	378,326	*	Sirius XM Radio, Inc		984
	18,871	e	SL Green Realty Corp		1,511
	102,153		SLM Corp		1,606
	210,000	*	Smithfield Foods, Inc		4,127
	73,762		Sotheby’s (Class A)		2,324
	366,926		Southern Co		16,912
	19,137		Southwest Airlines Co		168
	59,349	*	Southwestern Energy Co		2,064
	905,673		SPDR Trust Series 1		130,354
	98,514		Spectra Energy Corp		2,892
	765,465	*	Sprint Nextel Corp		4,225
	4,763		SPX Corp		312
	1,789	*,e	St. Joe Co		35
	329,129		St. Jude Medical, Inc		13,866
	69,430		Stanley Works		5,294
	104,246	e	Staples, Inc		1,201
	330,618		Starbucks Corp		16,779
	80,382		Starwood Hotels & Resorts Worldwide, Inc		4,659
	168,854		State Street Corp		7,085
	63,388	*	Stericycle, Inc		5,738
	49,050		Stryker Corp		2,730
	1,218	*	SunCoke Energy, Inc		20
	148,869	e	Sunoco, Inc		6,972
	157,765		SunTrust Banks, Inc		4,460
	100,098	*	Superior Energy Services		2,054
	640,268	*	Symantec Corp		11,525
	29,942	*	Synopsys, Inc		989
	7,422		Synovus Financial Corp		18
	71,814		Sysco Corp		2,246
	28,069		T Rowe Price Group, Inc		1,777
	802,677		Target Corp		50,946
	1,079		Taubman Centers, Inc		83
	67,600		TCF Financial Corp		807
	79,382		TD Ameritrade Holding Corp		1,220
	730		Techne Corp		53
	1,892		Telephone & Data Systems, Inc		48
	9,262	*	Tenet Healthcare Corp		58
	57,516	*	Teradata Corp		4,337
	138,800	*	Teradyne, Inc		1,974
	36,200	*,e	Tesla Motors, Inc		1,060

226

COLLEGE RETIREMENT EQUITIES FUND - Global Equities Account

SHARES			COMPANY	VALUE (000)
	198,073		Texas Instruments, Inc	$	5,457
	83,737		Textron, Inc		2,191
	417,802		Thermo Electron Corp		24,579
	15,853		Tiffany & Co		981
	9,157	*	Tilly’s, Inc		168
	112,281		Time Warner Cable, Inc		10,673
	768,059		Time Warner, Inc		34,816
	106,233		Timken Co		3,948
	414,886		TJX Companies, Inc		18,583
	133,871	*	Toll Brothers, Inc		4,449
	48,888		Torchmark Corp		2,510
	94,069		Total System Services, Inc		2,229
	73,057		Tractor Supply Co		7,225
	9,686	*	TransDigm Group, Inc		1,374
	50,000		Transocean Ltd-NYSE		2,245
	58,799		Travelers Cos, Inc		4,014
	12,447	*	Trimble Navigation Ltd		593
	19,958	*	TripAdvisor, Inc		657
	20,739	*	TRW Automotive Holdings Corp		907
	121,311		Tupperware Corp		6,501
	1,029,184		Tyco International Ltd		57,902
	60,252		Tyson Foods, Inc (Class A)		965
	127,898	*	UAL Corp		2,494
	25,631	e	UDR, Inc		636
	25,987		Ulta Salon Cosmetics & Fragrance, Inc		2,503
	21,010	*,e	Ultra Petroleum Corp		462
	401,382		Union Pacific Corp		47,644
	317,088		United Parcel Service, Inc (Class B)		22,694
	13,376	e	United States Steel Corp		255
	120,885		United Technologies Corp		9,464
	1,109,160		UnitedHealth Group, Inc		61,459
	1,790		Universal Health Services, Inc (Class B)		82
	39,559		UnumProvident Corp		760
	13,162	*	Urban Outfitters, Inc		494
	52,023		URS Corp		1,837
	1,659,403		US Bancorp		56,918
	359	*,e	US Cellular Corp		14
	216,191		Valero Energy Corp		6,849
	13,687	*	Varian Medical Systems, Inc		826
	84,030		Ventas, Inc		5,231
	17,711	*	VeriFone Systems, Inc		493
	64,536	*	VeriSign, Inc		3,142
	58,199	*	Verisk Analytics, Inc		2,771
	1,268,943		Verizon Communications, Inc		57,826
	232,669	*	Vertex Pharmaceuticals, Inc		13,018
	67,217		VF Corp		10,712
	753,846		Viacom, Inc (Class B)		40,399
	193,074		Visa, Inc (Class A)		25,926
	200,000	*	Vishay Intertechnology, Inc		1,966

227

COLLEGE RETIREMENT EQUITIES FUND - Global Equities Account

SHARES			COMPANY	VALUE (000)
	69,459	*	VMware, Inc (Class A)	$	6,719
	27,180		Vornado Realty Trust		2,203
	14,717		Vulcan Materials Co		696
	57,570		W.R. Berkley Corp		2,158
	13,294		W.W. Grainger, Inc		2,770
	248,098		Walgreen Co		9,041
	827,902		Wal-Mart Stores, Inc		61,099
	1,029,465		Walt Disney Co		53,820
	276,919		Walter Energy, Inc		8,989
	134,514		Warner Chilcott plc		1,816
	463	e	Washington Post Co (Class B)		168
	45,051		Waste Management, Inc		1,445
	11,338	*	Waters Corp		945
	172,172	*	Watson Pharmaceuticals, Inc		14,662
	335,534	*	Weatherford International Ltd		4,255
	22,399	*	WellCare Health Plans, Inc		1,267
	219,416		WellPoint, Inc		12,728
	3,564,735		Wells Fargo & Co		123,090
	141,076	*	Western Digital Corp		5,464
	114,875		Western Union Co		2,093
	229,651		Weyerhaeuser Co		6,003
	42,753		Whirlpool Corp		3,545
	12,263	*	Whiting Petroleum Corp		581
	64,570		Whole Foods Market, Inc		6,289
	317,593		Williams Cos, Inc		11,106
	17,513		Willis Group Holdings plc		647
	58,814	e	Windstream Corp		595
	89,993		Wisconsin Energy Corp		3,390
	3,710	*	WPX Energy, Inc		62
	204,869		Wyndham Worldwide Corp		10,752
	12,984		Wynn Resorts Ltd		1,499
	1,657,198		Xcel Energy, Inc		45,921
	187,532		Xerox Corp		1,376
	41,740		Xilinx, Inc		1,395
	27,638		Xylem, Inc		695
	217,042	*	Yahoo!, Inc		3,467
	580,069		Yum! Brands, Inc		38,482
	74,199		Zimmer Holdings, Inc		5,017
			TOTAL UNITED STATES		8,103,348
			TOTAL COMMON STOCKS		14,671,438
			(Cost $13,290,312)
RIGHTS / WARRANTS - 0.0%
AUSTRALIA - 0.0%
	681,005	m	GPT Group		0	^
			TOTAL AUSTRALIA		0	^
	FRANCE - 0.0%
	13,171		Cie Generale de Geophysique-Veritas		21
			TOTAL FRANCE		21
	MALAYSIA - 0.0%
	51,780		IJM Land BHD - CW13		14
			TOTAL MALAYSIA		14

228

COLLEGE RETIREMENT EQUITIES FUND - Global Equities Account

SHARES			COMPANY	RATE		MATURITY DATE	VALUE (000)
SPAIN - 0.0%
	42,640		CaixaBank				$	4
			TOTAL SPAIN					4
THAILAND - 0.0%
	1,900,000	m	Krung Thai Bank PCL					349
			TOTAL THAILAND					349
UNITED STATES - 0.0%
	149,280		Kinder Morgan, Inc					521
	984		Liberty Ventures					13
			TOTAL UNITED STATES					534
			TOTAL RIGHTS / WARRANTS					922
			(Cost $310)
PRINCIPAL			ISSUER
SHORT-TERM INVESTMENTS - 6.1%
TREASURY DEBT - 0.9%
$	18,100,000		United States Treasury Bill	0.088-0.091	%	10/11/12		18,100
	98,375,000		United States Treasury Bill	0.060-0.073		10/18/12		98,372
	11,200,000		United States Treasury Bill	0.082-0.095		11/29/12		11,198
	1,000,000		United States Treasury Bill	0.112		01/31/13		1,000
			TOTAL TREASURY DEBT					128,670
INVESTMENT OF CASH COLLATERAL FOR SECURITIES LOANED - 5.2%
REPURCHASE AGREEMENTS - 4.9%
	150,000,000	o	Bank of Nova Scotia	0.210		10/01/12		150,000
	46,000,000	p	Calyon	0.170		10/01/12		46,000
	30,000,000	q	Citigroup	0.210		10/01/12		30,000
	88,000,000	r	CSFB	0.230		10/01/12		88,000
	75,000,000	s	HSBC	0.200		10/01/12		75,000
	130,000,000	t	Merrill Lynch	0.150-0.170		10/01/12		130,000
	75,000,000	u	Morgan Stanley	0.200		10/01/12		75,000
	45,000,000	v	Royal Bank of Scotland	0.200		10/01/12		45,000
	85,000,000	w	UBS Warburg	0.170		10/01/12		85,000
			TOTAL REPURCHASE AGREEMENTS					724,000
VARIABLE RATE SECURITY - 0.3%
	11,000,000	i	American Express Credit Account Master	0.520		10/15/12		11,000
	2,440,839	i	Granite Master Issuer plc 2006	0.540		12/20/50		2,388
	2,092,148	i	Granite Master Issuer plc 2007	0.570		12/20/50		2,047
	1,252,426	i	Medallion Trust Series 2005	0.590		08/22/36		1,226
	1,504,799	i	Nelnet Student Loan Trust 2007	0.620		09/25/18		1,504
	2,238,280	i	Puma Global Mortgage Backed Trust	0.610		02/21/38		2,161
	30,000,000	i	SLM Student Loan Trust 2007	0.640		01/25/19		29,544
	5,617,935	i	SLM Student Loan Trust 2008	0.800		10/25/16		5,602
			TOTAL VARIABLE RATE SECURITY					55,472

229

COLLEGE RETIREMENT EQUITIES FUND - Global Equities Account

SHARES		COMPANY	RATE	MATURITY DATE	VALUE (000)
		TOTAL INVESTMENT OF CASH COLLATERAL FOR SECURITIES LOANED			$	779,472
		TOTAL SHORT-TERM INVESTMENTS				908,142
		(Cost $908,601)
		TOTAL INVESTMENTS - 104.9% (Cost $14,199,223)				15,580,502
		OTHER ASSETS & LIABILITIES, NET - (4.9)%				(731,709	)
		NET ASSETS - 100.0%			$	14,848,793
		Abbreviation(s):
	ADR	American Depositary Receipt
	GDR	Global Depositary Receipt
	NVDR	Non Voting Depositary Receipt
	REIT	Real Estate Investment Trust
	SPDR	Standard & Poor’s Depository Receipts
	*	Non-income producing.
	^	Amount represents less than $1,000.
	d	All or a portion of these securities have been segregated by the custodian to cover margin or other requirements on open futures transactions.
	e	All or a portion of these securities are out on loan. The aggregate value of securities on loan is $739,900,000.
	f	Restricted security. As of 9/30/2012, the aggregate value of these securities amounted to $9,333,000 or 0.1% of net assets.
	i	Floating or variable rate security. Coupon rate reflects the rate at period end.
	m	Indicates a security that has been deemed illiquid.
	o	Agreement with Bank of Nova Scotia, 0.21% dated 09/28/12 to be repurchased at $150,003,000 on 010/01/12, collateralized by U.S. Treasury Securities valued at $153,096,000.
	p	Agreement with Calyon, 0.17% dated 09/28/12 to be repurchased at $46,001,000 on 010/01/12, collateralized by U.S. Treasury Securities valued at $46,920,000.
	q	Agreement with Citigroup, 0.21% dated 09/28/12 to be repurchased at $30,001,000 on 010/01/12, collateralized by U.S. Treasury Securities valued at $30,600,000.
	r	Agreement with CSFB, 0.23% dated 09/28/12 to be repurchased at $88,002,000 on 010/01/12, collateralized by U.S. Treasury Securities valued at $89,761,000.
	s	Agreement with HSBC, 0.20% dated 09/28/12 to be repurchased at $75,001,000 on 010/01/12, collateralized by U.S. Treasury Securities valued at $76,500,000.
	t	Agreement with Merril Lynch, 0.15-0.17% dated 09/28/12 to be repurchased at $130,002,000 on 010/01/12, collateralized by U.S. Treasury Securities valued at $132,627,000.
	u	Agreement with Morgan Stanley, 0.20% dated 09/28/12 to be repurchased at $75,001,000 on 010/01/12, collateralized by U.S. Treasury Securities valued at $76,500,000.
	v	Agreement with Royal Bank of Scotland, 0.20% dated 09/28/12 to be repurchased at $45,001,000 on 010/01/12, collateralized by U.S. Treasury Securities valued at $45,904,000.
	w	Agreement with UBS, 0.17% dated 09/28/12 to be repurchased at $85,001,000 on 010/01/12, collateralized by U.S. Treasury Securities valued at $86,700,000.
		Cost amounts are in thousands.

230

COLLEGE RETIREMENT EQUITIES FUND - Global Equities Account

COLLEGE RETIREMENT EQUITIES FUND
GLOBAL EQUITIES ACCOUNT
SUMMARY OF MARKET VALUES BY SECTOR (unaudited)
September 30, 2012

SECTOR	VALUE (000)			% OF NET ASSETS
FINANCIALS	$	2,814,885			18.9	%
INFORMATION TECHNOLOGY		2,040,554			13.7
CONSUMER DISCRETIONARY		1,979,843			13.3
INDUSTRIALS		1,550,749			10.4
HEALTH CARE		1,506,697			10.2
ENERGY		1,461,792			9.8
CONSUMER STAPLES		1,417,989			9.6
MATERIALS		1,052,297			7.1
TELECOMMUNICATION SERVICES		453,292			3.1
UTILITIES		394,262			2.7
SHORT - TERM INVESTMENTS		908,142			6.1
OTHER ASSETS & LIABILITIES, NET		(731,709	)		(4.9	)
NET ASSETS	$	14,848,793			100.0	%

231

COLLEGE RETIREMENT EQUITIES FUND - Growth Account

COLLEGE RETIREMENT EQUITIES FUND
GROWTH ACCOUNT
SCHEDULE OF INVESTMENTS (unaudited)
September 30, 2012

SHARES			COMPANY	VALUE (000)
	COMMON STOCKS - 99.3%
	AUTOMOBILES & COMPONENTS - 0.6%
	19,058	e	Allison Transmission Holdings, Inc	$	383
	733,148	*	BorgWarner, Inc		50,669
	261,935	*	Delphi Automotive plc		8,120
	102,086		Gentex Corp		1,736
	174,213	*	Goodyear Tire & Rubber Co		2,124
	183,466		Harley-Davidson, Inc		7,773
	497,643	*,e	Tesla Motors, Inc		14,572
	126,600		Thor Industries, Inc		4,598
	2,234	*	Visteon Corp		99
			TOTAL AUTOMOBILES & COMPONENTS		90,074
	BANKS - 0.0%
	50,251		People’s United Financial, Inc		610
	6,110	*	Signature Bank		410
			TOTAL BANKS		1,020
	CAPITAL GOODS - 8.2%
	492,309		3M Co		45,499
	189,400		Ametek, Inc		6,714
	15,390		Armstrong World Industries, Inc		714
	257,859	*	Babcock & Wilcox Co		6,568
	78,138	*	BE Aerospace, Inc		3,290
	2,246,663		Boeing Co		156,413
	4,140		Carlisle Cos, Inc		215
	828,423		Caterpillar, Inc		71,279
	383,844	e	Chicago Bridge & Iron Co NV		14,621
	169,600	*	CNH Global NV		6,575
	6,843	*,e	Colfax Corp		251
	195,542		Cooper Industries plc		14,677
	646,620		Cummins, Inc		59,625
	156,903		Danaher Corp		8,653
	581,046		Deere & Co		47,930
	424,422		Donaldson Co, Inc		14,732
	486,925		Emerson Electric Co		23,504
	233,937		Fastenal Co		10,057
	98,447		Flowserve Corp		12,576
	360,730		Fluor Corp		20,302
	16,411	*	Fortune Brands Home & Security, Inc		443
	5,165	*	General Cable Corp		152
	43,381		Graco, Inc		2,181
	1,978,791		Honeywell International, Inc		118,233
	105,557		Hubbell, Inc (Class B)		8,523
	11,716		IDEX Corp		489
	317,247		Illinois Tool Works, Inc		18,867

232

COLLEGE RETIREMENT EQUITIES FUND - Growth Account

SHARES			COMPANY	VALUE (000)
	761,202		Ingersoll-Rand plc	$	34,117
	15,900		ITT Corp		320
	347,053		Joy Global, Inc		19,456
	331,800		KBR, Inc		9,894
	278,600		Kennametal, Inc		10,330
	38,161		Lennox International, Inc		1,845
	303,159		Lincoln Electric Holdings, Inc		11,838
	445,143		Lockheed Martin Corp		41,567
	77,280	e	Manitowoc Co, Inc		1,031
	280,524		Masco Corp		4,222
	10,062	*	MRC Global, Inc		247
	133,546		MSC Industrial Direct Co (Class A)		9,009
	106,701		Nordson Corp		6,255
	57,867		Paccar, Inc		2,316
	91,160		Pall Corp		5,788
	438,948		Parker Hannifin Corp		36,687
	33,835	*,e	Polypore International, Inc		1,196
	627,852		Precision Castparts Corp		102,553
	113,221		Rockwell Automation, Inc		7,875
	114,838		Rockwell Collins, Inc		6,160
	659,475		Roper Industries, Inc		72,469
	53,167		Snap-On, Inc		3,821
	13,240	*	Spirit Aerosystems Holdings, Inc (Class A)		294
	9,959		SPX Corp		651
	207,612		Textron, Inc		5,433
	336,452		Timken Co		12,503
	41,216		Toro Co		1,640
	40,776	*	TransDigm Group, Inc		5,785
	105,693		Triumph Group, Inc		6,609
	68,097	*	United Rentals, Inc		2,227
	818,406		United Technologies Corp		64,073
	99,752		Valmont Industries, Inc		13,117
	336,313		W.W. Grainger, Inc		70,078
	43,635	*	WABCO Holdings, Inc		2,516
	148,774		Westinghouse Air Brake Technologies Corp		11,945
	14,782		Xylem, Inc		372
			TOTAL CAPITAL GOODS		1,259,322
	COMMERCIAL & PROFESSIONAL SERVICES - 1.2%
	35,822		Cintas Corp		1,485
	34,535	*	Clean Harbors, Inc		1,687
	536,887	*	Copart, Inc		14,888
	6,160		Covanta Holding Corp		106
	21,709		Dun & Bradstreet Corp		1,728
	86,471		Equifax, Inc		4,028
	35,379	*	IHS, Inc (Class A)		3,444
	111,574		Iron Mountain, Inc		3,806
	649,944	*	Nielsen Holdings NV		19,485
	76,087	e	Pitney Bowes, Inc		1,052
	104,916		Robert Half International, Inc		2,794
	43,223		Rollins, Inc		1,011
	206,730	*	Stericycle, Inc		18,712

233

COLLEGE RETIREMENT EQUITIES FUND - Growth Account

SHARES			COMPANY	VALUE (000)
	168,200		Towers Watson & Co	$	8,923
	566,531		Tyco International Ltd		31,873
	1,134,753	*	Verisk Analytics, Inc		54,026
	341,726		Waste Connections, Inc		10,337
			TOTAL COMMERCIAL & PROFESSIONAL SERVICES		179,385
	CONSUMER DURABLES & APPAREL - 1.9%
	581,748		Burberry Group plc		9,420
	35,197	*	Carter’s, Inc		1,895
	416,485		Coach, Inc		23,331
	16,865	*,e	Deckers Outdoor Corp		618
	349,777		DR Horton, Inc		7,219
	43,562	*	Fossil, Inc		3,690
	5,674	*,e	Garmin Ltd		237
	68,987	*	Hanesbrands, Inc		2,199
	75,242	e	Hasbro, Inc		2,872
	474,386		Jarden Corp		25,066
	75,000		Luxottica Group S.p.A.		2,646
	208,150		Mattel, Inc		7,385
	224,226	*	Michael Kors Holdings Ltd		11,924
	671,988		Nike, Inc (Class B)		63,777
	3,289	*	NVR, Inc		2,778
	171,058		Phillips-Van Heusen Corp		16,032
	169,951		Polaris Industries, Inc		13,744
	222,100	*	Pulte Homes, Inc		3,443
	393,889		Ralph Lauren Corp		59,568
	42,729	*	Tempur-Pedic International, Inc		1,277
	100,300	*	Toll Brothers, Inc		3,333
	292,045		Tupperware Corp		15,651
	62,001	*,e	Under Armour, Inc (Class A)		3,462
	69,510		VF Corp		11,077
			TOTAL CONSUMER DURABLES & APPAREL		292,644
	CONSUMER SERVICES - 3.4%
	232,009	*	Apollo Group, Inc (Class A)		6,740
	99,942	*	Bally Technologies, Inc		4,936
	316,452		Brinker International, Inc		11,171
	118,932	*	Chipotle Mexican Grill, Inc (Class A)		37,766
	1,644	e	Choice Hotels International, Inc		53
	100,750		Darden Restaurants, Inc		5,617
	51,113	e	Dunkin Brands Group, Inc		1,492
	123,925		H&R Block, Inc		2,148
	109,916		International Game Technology		1,439
	17,079	*,e	ITT Educational Services, Inc		550
	1,912,462		Las Vegas Sands Corp		88,681
	186,138		Marriott International, Inc (Class A)		7,278
	1,434,347		McDonald’s Corp		131,600
	680,064	*	Orient-Express Hotels Ltd (Class A)		6,053
	86,823	*	Panera Bread Co (Class A)		14,837
	3,881	*	Penn National Gaming, Inc		167
	3,571,400	e	Sands China Ltd		13,223
	2,110,680		Starbucks Corp		107,117

234

COLLEGE RETIREMENT EQUITIES FUND - Growth Account

SHARES			COMPANY	VALUE (000)
	410,039		Starwood Hotels & Resorts Worldwide, Inc	$	23,766
	146,380	e	Weight Watchers International, Inc		7,729
	116,453		Wyndham Worldwide Corp		6,111
	62,914		Wynn Resorts Ltd		7,263
	600,917		Yum! Brands, Inc		39,865
			TOTAL CONSUMER SERVICES		525,602
	DIVERSIFIED FINANCIALS - 3.4%
	414,663	*	Affiliated Managers Group, Inc		51,004
	741,593		American Express Co		42,167
	466,035		Ameriprise Financial, Inc		26,420
	137,723		BlackRock, Inc		24,556
	2,123,462		Blackstone Group LP		30,323
	54,900		CBOE Holdings, Inc		1,615
	898,200		Discover Financial Services		35,685
	84,863		Eaton Vance Corp		2,458
	52,243	e	Federated Investors, Inc (Class B)		1,081
	118,577		Franklin Resources, Inc		14,830
	434,671	*	IntercontinentalExchange, Inc		57,990
	2,220,750	e	iShares Russell 1000 Growth Index Fund		148,124
	79,268		Lazard Ltd (Class A)		2,317
	33,952		Leucadia National Corp		772
	31,672		LPL Financial Holdings, Inc		904
	1,031,157		Moody’s Corp		45,546
	94,291	*	MSCI, Inc (Class A)		3,375
	98,646		SEI Investments Co		2,116
	413,036		T Rowe Price Group, Inc		26,145
	61,652		Waddell & Reed Financial, Inc (Class A)		2,020
			TOTAL DIVERSIFIED FINANCIALS		519,448
	ENERGY - 4.0%
	9,417	*	Atwood Oceanics, Inc		428
	428,350		Cabot Oil & Gas Corp		19,233
	150,998	*	Cameron International Corp		8,466
	13,720	e	CARBO Ceramics, Inc		863
	88,815	*	Cheniere Energy, Inc		1,381
	51,600		Chevron Corp		6,014
	138,423	*	Cobalt International Energy, Inc		3,083
	555,203	*	Concho Resources, Inc		52,605
	29,913	*	Continental Resources, Inc		2,300
	140,273	e	Crescent Point Energy Corp		6,211
	854,909	*	Denbury Resources, Inc		13,815
	53,758	*	Dresser-Rand Group, Inc		2,963
	645,033		EOG Resources, Inc		72,277
	188,458	*	FMC Technologies, Inc		8,726
	31,663	e	Golar LNG Ltd		1,222
	232,727		Halliburton Co		7,841
	15,905		Helmerich & Payne, Inc		757
	90,252		Holly Corp		3,725
	389,860		Kinder Morgan, Inc		13,848
	51,435	*	Kosmos Energy LLC		586
	9,086	*	Laredo Petroleum Holdings, Inc		200

235

COLLEGE RETIREMENT EQUITIES FUND - Growth Account

SHARES			COMPANY	VALUE (000)
	137,000		Murphy Oil Corp	$	7,356
	628,004		National Oilwell Varco, Inc		50,309
	28,693		Noble Energy, Inc		2,660
	245,340		Occidental Petroleum Corp		21,114
	278,721		Oceaneering International, Inc		15,399
	33,830	*	Oil States International, Inc		2,688
	80,957		Pioneer Natural Resources Co		8,452
	129,432		Range Resources Corp		9,043
	38,720	e	RPC, Inc		460
	2,971,084		Schlumberger Ltd		214,899
	6,872		SEACOR Holdings, Inc		573
	340,801	*	Southwestern Energy Co		11,853
	36,764		St. Mary Land & Exploration Co		1,989
	245,704		Suncor Energy, Inc (NY)		8,071
	65,968	e	Sunoco, Inc		3,089
	214,700		Tullow Oil plc		4,763
	13,443	*	Whiting Petroleum Corp		637
	493,540		Williams Cos, Inc		17,259
	16,673		World Fuel Services Corp		594
			TOTAL ENERGY		607,752
	FOOD & STAPLES RETAILING - 2.1%
	597,062		Costco Wholesale Corp		59,780
	349,931		CVS Corp		16,944
	19,983	*	Fresh Market, Inc		1,199
	1,616,005		Kroger Co		38,041
	24,004	e	Safeway, Inc		386
	244,600		Sysco Corp		7,649
	2,367,799		Wal-Mart Stores, Inc		174,743
	245,146		Whole Foods Market, Inc		23,877
			TOTAL FOOD & STAPLES RETAILING		322,619
	FOOD, BEVERAGE & TOBACCO - 6.0%
	1,963,824		Altria Group, Inc		65,572
	19,159	*	Annie’s, Inc		859
	215,438		Brown-Forman Corp (Class B)		14,057
	470,796	e	Campbell Soup Co		16,393
	5,410,844		Coca-Cola Co		205,234
	521,736		Coca-Cola Enterprises, Inc		16,315
	114,999	*	Dean Foods Co		1,880
	325,769		Dr Pepper Snapple Group, Inc		14,506
	85,267		Flowers Foods, Inc		1,721
	401,611		General Mills, Inc		16,004
	92,413	*,e	Green Mountain Coffee Roasters, Inc		2,195
	157,208		H.J. Heinz Co		8,796
	455,387		Hershey Co		32,282
	73,489		Hillshire Brands Co		1,968
	244,429		Hormel Foods Corp		7,147
	230,135		Ingredion, Inc		12,694
	180,465		Kellogg Co		9,323
	67,051		Kraft Foods, Inc (Class A)		2,773
	234,784		Lorillard, Inc		27,341

236

COLLEGE RETIREMENT EQUITIES FUND - Growth Account

SHARES			COMPANY	VALUE (000)
	105,825		McCormick & Co, Inc	$	6,565
	478,588		Mead Johnson Nutrition Co		35,071
	322,279	*	Monster Beverage Corp		17,455
	2,146,937		PepsiCo, Inc		151,939
	2,802,665		Philip Morris International, Inc		252,071
	88,272		Reynolds American, Inc		3,826
			TOTAL FOOD, BEVERAGE & TOBACCO		923,987
HEALTH CARE EQUIPMENT & SERVICES - 4.0%
	297,500		Aetna, Inc		11,781
	23,872	*	Amerigroup Corp		2,183
	436,703		AmerisourceBergen Corp		16,905
	67,183		Bard (C.R.), Inc		7,031
	690,309		Baxter International, Inc		41,598
	149,772		Becton Dickinson & Co		11,766
	531,172		Cardinal Health, Inc		20,700
	250,656	*	Catamaran Corp		24,556
	633,967	*	Cerner Corp		49,075
	8,971		Cooper Cos, Inc		847
	17,532		Covidien plc		1,042
	174,442	*	DaVita, Inc		18,074
	45,969		Dentsply International, Inc		1,753
	517,617	*	Edwards Lifesciences Corp		55,577
	975,787	*	Express Scripts Holding Co		61,152
	328,166		HCA Holdings, Inc		10,912
	37,134	*	Henry Schein, Inc		2,944
	224,316	*	Idexx Laboratories, Inc		22,286
	220,711	*	Intuitive Surgical, Inc		109,391
	75,962	*	Laboratory Corp of America Holdings		7,024
	712,088		McKesson Corp		61,260
	46,301		Medtronic, Inc		1,996
	62,876		Patterson Cos, Inc		2,153
	13,649		Quest Diagnostics, Inc		866
	329,336		Resmed, Inc		13,328
	93,858	*	Sirona Dental Systems, Inc		5,346
	191,838		St. Jude Medical, Inc		8,082
	180,712		Stryker Corp		10,058
	22,449	*	Tenet Healthcare Corp		141
	42,473	*	Thoratec Corp		1,470
	254,073		UnitedHealth Group, Inc		14,078
	4,030		Universal Health Services, Inc (Class B)		184
	88,091	*	Varian Medical Systems, Inc		5,314
	181,808		WellPoint, Inc		10,547
	12,821		Zimmer Holdings, Inc		867
			TOTAL HEALTH CARE EQUIPMENT & SERVICES		612,287
HOUSEHOLD & PERSONAL PRODUCTS - 1.7%
	264,389		Avon Products, Inc		4,217
	202,870		Beiersdorf AG.		14,900
	284,380		Church & Dwight Co, Inc		15,354
	4,102		Clorox Co		296
	576,690		Colgate-Palmolive Co		61,832

237

COLLEGE RETIREMENT EQUITIES FUND - Growth Account

SHARES			COMPANY	VALUE (000)
	1,577,973		Estee Lauder Cos (Class A)	$	97,156
	551,989		Herbalife Ltd		26,164
	276,614		Kimberly-Clark Corp		23,728
	38,558	e	Nu Skin Enterprises, Inc (Class A)		1,497
	157,738		Procter & Gamble Co		10,941
			TOTAL HOUSEHOLD & PERSONAL PRODUCTS		256,085
INSURANCE - 0.3%
	152,019		ACE Ltd		11,494
	13,459		Allied World Assurance Co Holdings Ltd		1,040
	20,201		Aon plc		1,056
	11,088	*	Arch Capital Group Ltd		462
	86,194		Arthur J. Gallagher & Co		3,087
	118,800	*	Berkshire Hathaway, Inc (Class B)		10,478
	7,534		Brown & Brown, Inc		196
	19,379		Erie Indemnity Co (Class A)		1,245
	14,836		Hanover Insurance Group, Inc		553
	342,888		Marsh & McLennan Cos, Inc		11,635
	133,686		Travelers Cos, Inc		9,125
	7,196		Validus Holdings Ltd		244
			TOTAL INSURANCE		50,615
MATERIALS - 4.0%
	54,288		Airgas, Inc		4,468
	179,002		Albemarle Corp		9,430
	63,758	*	Allied Nevada Gold Corp		2,490
	16,244		Aptargroup, Inc		840
	193,913		Ashland, Inc		13,884
	456,002		Ball Corp		19,293
	214,712		Barrick Gold Corp		8,966
	4,626		Carpenter Technology Corp		242
	299,681		Celanese Corp (Series A)		11,361
	178,001		CF Industries Holdings, Inc		39,559
	23,580		Compass Minerals International, Inc		1,759
	25,681	*	Crown Holdings, Inc		944
	739,507		Du Pont (E.I.) de Nemours & Co		37,175
	302,809		Eastman Chemical Co		17,263
	206,285		Ecolab, Inc		13,369
	108,483		FMC Corp		6,008
	424,738		Freeport-McMoRan Copper & Gold, Inc (Class B)		16,811
	509,400		Huntsman Corp		7,605
	63,080		International Flavors & Fragrances, Inc		3,758
	206,000		International Paper Co		7,482
	21,460	*	Intrepid Potash, Inc		461
	15,156		LyondellBasell Industries AF S.C.A		783
	15,256	e	Martin Marietta Materials, Inc		1,264
	13,521	*,e	Molycorp, Inc		155
	1,940,341		Monsanto Co		176,610
	6,353		NewMarket Corp		1,566
	88,787	*	Owens-Illinois, Inc		1,666
	65,842		Packaging Corp of America		2,390
	459,402		PPG Industries, Inc		52,758

238

COLLEGE RETIREMENT EQUITIES FUND - Growth Account

SHARES			COMPANY	VALUE (000)
	235,733		Praxair, Inc	$	24,488
	5,866		Rock-Tenn Co (Class A)		423
	14,885		Rockwood Holdings, Inc		694
	45,781		Royal Gold, Inc		4,572
	37,221		RPM International, Inc		1,062
	26,353	e	Scotts Miracle-Gro Co (Class A)		1,146
	393,247		Sherwin-Williams Co		58,558
	95,631		Sigma-Aldrich Corp		6,883
	35,390		Silgan Holdings, Inc		1,540
	607,200		Southern Copper Corp (NY)		20,864
	38,812		Steel Dynamics, Inc		436
	13,128	*	Tahoe Resources, Inc		267
	214,545		Valspar Corp		12,036
	3,826	e	Westlake Chemical Corp		280
	201,861	*	WR Grace & Co		11,926
			TOTAL MATERIALS		605,535
MEDIA - 5.1%
	38,858	*	AMC Networks, Inc		1,691
	19,255		Cablevision Systems Corp (Class A)		305
	2,001,796		CBS Corp (Class B)		72,725
	35,116	*	Charter Communications, Inc		2,636
	83,571		Cinemark Holdings, Inc		1,874
	4,189,362		Comcast Corp (Class A)		149,854
	1,639,105	*	DIRECTV		85,987
	202,334	*	Discovery Communications, Inc (Class A)		12,065
	1,235,527		DISH Network Corp (Class A)		37,819
	1,792,133		Interpublic Group of Cos, Inc		19,929
	16,057		John Wiley & Sons, Inc (Class A)		738
	48,388	*,e	Lamar Advertising Co (Class A)		1,793
	208,348	*	Liberty Global, Inc (Class A)		12,657
	95,543	*	Liberty Interactive LLC		9,953
	495,205		McGraw-Hill Cos, Inc		27,033
	17,760		Morningstar, Inc		1,112
	1,066,003		News Corp (Class A)		26,149
	423,125		Omnicom Group, Inc		21,816
	73,941	*,e	Pandora Media, Inc		810
	215,554	e	Regal Entertainment Group (Class A)		3,033
	703,930		Scripps Networks Interactive (Class A)		43,102
	3,022,042	*	Sirius XM Radio, Inc		7,857
	592,722		Time Warner Cable, Inc		56,344
	1,162,136		Viacom, Inc (Class B)		62,279
	535,685	e	Virgin Media, Inc		15,771
	2,164,228		Walt Disney Co		113,147
			TOTAL MEDIA		788,479
PHARMACEUTICALS, BIOTECHNOLOGY & LIFE SCIENCES - 8.7%
	2,941,120		Abbott Laboratories		201,643
	761,170		Agilent Technologies, Inc		29,267
	827,611	*	Alexion Pharmaceuticals, Inc		94,679
	1,139,322		Allergan, Inc		104,339
	1,824,868		Amgen, Inc		153,873

239

COLLEGE RETIREMENT EQUITIES FUND - Growth Account

SHARES			COMPANY	VALUE (000)
	120,505	*	Ariad Pharmaceuticals, Inc	$	2,919
	348,538	*	Biogen Idec, Inc		52,012
	704,864	*	BioMarin Pharmaceuticals, Inc		28,385
	1,692,376		Bristol-Myers Squibb Co		57,118
	60,618	*	Bruker BioSciences Corp		793
	1,476,335	*	Celgene Corp		112,792
	24,737	*	Charles River Laboratories International, Inc		980
	3,235	*	Covance, Inc		151
	367,729		Eli Lilly & Co		17,434
	53,205	*	Endo Pharmaceuticals Holdings, Inc		1,688
	1,905,109	*	Gilead Sciences, Inc		126,366
	625,035	*,e	Illumina, Inc		30,126
	69,955	*,e	Incyte Corp		1,263
	647,673		Johnson & Johnson		44,631
	11,104	*	Life Technologies Corp		543
	51,138	*	Medivation, Inc		2,882
	25,223	*	Mettler-Toledo International, Inc		4,307
	1,143,923	*	Mylan Laboratories, Inc		27,912
	60,956	*	Myriad Genetics, Inc		1,645
	137,711		Novo Nordisk AS (Class B)		21,672
	360,163	*	Onyx Pharmaceuticals, Inc		30,434
	208,659		Perrigo Co		24,240
	451,700		Pfizer, Inc		11,225
	61,091	*	Regeneron Pharmaceuticals, Inc		9,326
	42,209	*	Salix Pharmaceuticals Ltd		1,787
	26,585		Techne Corp		1,913
	347,100		Teva Pharmaceutical Industries Ltd (ADR)		14,373
	33,658	*	United Therapeutics Corp		1,881
	915,228	*	Vertex Pharmaceuticals, Inc		51,207
	198,188	*	Viropharma, Inc		5,989
	932,509		Warner Chilcott plc		12,589
	172,352	*	Waters Corp		14,362
	430,361	*	Watson Pharmaceuticals, Inc		36,650
			TOTAL PHARMACEUTICALS, BIOTECHNOLOGY & LIFE SCIENCES		1,335,396
REAL ESTATE - 1.5%
	5,425		American Campus Communities, Inc		238
	579,273		American Tower Corp		41,354
	68,961		Apartment Investment & Management Co (Class A)		1,792
	74,212		Boston Properties, Inc		8,209
	15,790		BRE Properties, Inc (Class A)		740
	43,974		Camden Property Trust		2,836
	486,192	*	CBRE Group, Inc		8,951
	97,186	e	Digital Realty Trust, Inc		6,788
	24,797		Equity Lifestyle Properties, Inc		1,689
	126,704		Equity Residential		7,289
	28,100		Essex Property Trust, Inc		4,166
	289,298		Extra Space Storage, Inc		9,619
	40,016		Federal Realty Investment Trust		4,214
	21,291		HCP, Inc		947
	18,850		Home Properties, Inc		1,155
	68,100		Jones Lang LaSalle, Inc		5,199

240

COLLEGE RETIREMENT EQUITIES FUND - Growth Account

SHARES			COMPANY	VALUE (000)
	3,849		Kilroy Realty Corp	$	172
	28,093		Mid-America Apartment Communities, Inc		1,835
	128,822		Plum Creek Timber Co, Inc		5,648
	16,134		Post Properties, Inc		774
	112,521		Public Storage, Inc		15,660
	77,292		Rayonier, Inc		3,788
	39,387		Regency Centers Corp		1,919
	586,890		Simon Property Group, Inc		89,096
	67,404		Tanger Factory Outlet Centers, Inc		2,179
	13,260		Taubman Centers, Inc		1,017
	137,294		Weyerhaeuser Co		3,589
			TOTAL REAL ESTATE		230,863
RETAILING - 7.2%
	39,393		Aaron’s, Inc		1,096
	92,164		Advance Auto Parts, Inc		6,308
	1,062,941	*	Amazon.com, Inc		270,326
	347,764		American Eagle Outfitters, Inc		7,331
	89,236	*	Ascena Retail Group, Inc		1,914
	12,828	*,e	Autonation, Inc		560
	30,083	*	Autozone, Inc		11,121
	587,192	*	Bed Bath & Beyond, Inc		36,993
	271,425	*	Big Lots, Inc		8,029
	26,533	*	Carmax, Inc		751
	85,651		Chico’s FAS, Inc		1,551
	248,453		Dick’s Sporting Goods, Inc		12,882
	353,982	*	Dollar General Corp		18,244
	1,097,578	*	Dollar Tree, Inc		52,985
	211,038		DSW, Inc (Class A)		14,080
	688,184		Expedia, Inc		39,805
	155,966		Family Dollar Stores, Inc		10,341
	8,101	*,e	Five Below, Inc		317
	279,140		Foot Locker, Inc		9,909
	477,756		Gap, Inc		17,094
	231,810		Genuine Parts Co		14,147
	180,917		GNC Holdings, Inc		7,050
	24,792	*,e	Groupon, Inc		118
	2,380,091		Home Depot, Inc		143,686
	20,854	*,e	HomeAway, Inc		489
	11,849		Kohl’s Corp		607
	57,930	*	Liberty Media Holding Corp (Interactive A)		1,072
	3,155	*	Liberty Ventures		157
	863,541		Limited Brands, Inc		42,538
	229,016	*	LKQ Corp		4,237
	360,652		Lowe’s Companies, Inc		10,906
	415,968		Macy’s, Inc		15,649
	39,384	*,e	NetFlix, Inc		2,144
	394,146		Nordstrom, Inc		21,748
	292,174	*	O’Reilly Automotive, Inc		24,432
	545,475		Petsmart, Inc		37,627
	44,843	*	Priceline.com, Inc		27,746
	911,386		Ross Stores, Inc		58,876

241

COLLEGE RETIREMENT EQUITIES FUND - Growth Account

SHARES			COMPANY	VALUE (000)
	202,559	*	Sally Beauty Holdings, Inc	$	5,082
	222,493		Target Corp		14,122
	389,348		Tiffany & Co		24,093
	13,990	*	Tilly’s, Inc		256
	1,954,078		TJX Companies, Inc		87,523
	56,729		Tractor Supply Co		5,610
	59,450	*	TripAdvisor, Inc		1,958
	154,279		Ulta Salon Cosmetics & Fragrance, Inc		14,858
	85,157	*	Urban Outfitters, Inc		3,198
	219,480		Williams-Sonoma, Inc		9,651
			TOTAL RETAILING		1,101,217
SEMICONDUCTORS & SEMICONDUCTOR EQUIPMENT - 1.9%
	438,334	*,e	Advanced Micro Devices, Inc		1,477
	501,311		Altera Corp		17,037
	212,792		Analog Devices, Inc		8,339
	39,292	*	Atmel Corp		207
	356,298		Avago Technologies Ltd		12,422
	983,891		Broadcom Corp (Class A)		34,024
	70,934		Cypress Semiconductor Corp		760
	414,599	*,e	Freescale Semiconductor Holdings Ltd		3,943
	4,929,030		Intel Corp		111,791
	321,700		Kla-Tencor Corp		15,347
	41,322	*	Lam Research Corp		1,313
	178,693		Linear Technology Corp		5,691
	1,587,730	*	LSI Logic Corp		10,971
	536,416		Maxim Integrated Products, Inc		14,279
	149,502	e	Microchip Technology, Inc		4,895
	429,534	*	Nvidia Corp		5,730
	26,866	*	Silicon Laboratories, Inc		988
	134,328	*	Skyworks Solutions, Inc		3,165
	744,703	*	Teradyne, Inc		10,590
	606,876		Texas Instruments, Inc		16,719
	460,093		Xilinx, Inc		15,372
			TOTAL SEMICONDUCTORS & SEMICONDUCTOR EQUIPMENT		295,060
SOFTWARE & SERVICES - 18.4%
	1,105,426		Accenture plc		77,413
	2,347,931	*	Adobe Systems, Inc		76,214
	705,854	*	Akamai Technologies, Inc		27,006
	257,302	*	Alliance Data Systems Corp		36,524
	356,691	*	Amdocs Ltd		11,767
	72,113	*	Ansys, Inc		5,293
	15,562	*	AOL, Inc		548
	69,032	*	Ariba, Inc		3,093
	262,576	*	Autodesk, Inc		8,762
	509,121		Automatic Data Processing, Inc		29,865
	128,812	*	BMC Software, Inc		5,344
	90,693		Broadridge Financial Solutions, Inc		2,116
	14,713		CA, Inc		379
	211,006	*	Cadence Design Systems, Inc		2,715
	147,493	*	Citrix Systems, Inc		11,294

242

COLLEGE RETIREMENT EQUITIES FUND - Growth Account

SHARES			COMPANY	VALUE (000)
	811,262	*	Cognizant Technology Solutions Corp (Class A)	$	56,723
	8,263	*	Compuware Corp		82
	36,348	*	Concur Technologies, Inc		2,680
	4,344		DST Systems, Inc		246
	3,837,295	*	eBay, Inc		185,764
	38,362	*	Equinix, Inc		7,904
	332,562	*,e	Facebook, Inc		7,200
	35,456	e	Factset Research Systems, Inc		3,419
	89,129	*	Fiserv, Inc		6,598
	35,381	*	FleetCor Technologies, Inc		1,585
	94,975	*	Fortinet, Inc		2,293
	777,691	*	Gartner, Inc		35,844
	69,825		Genpact Ltd		1,165
	57,206		Global Payments, Inc		2,393
	600,116	*	Google, Inc (Class A)		452,789
	370,309		IAC/InterActiveCorp		19,278
	83,038	*	Informatica Corp		2,891
	1,726,993		International Business Machines Corp		358,264
	2,843,676		Intuit, Inc		167,436
	63,429		Jack Henry & Associates, Inc		2,404
	174,907		Lender Processing Services, Inc		4,878
	48,688	*	LinkedIn Corp		5,862
	371,356		Mastercard, Inc (Class A)		167,660
	63,694	*	Micros Systems, Inc		3,129
	11,685,709		Microsoft Corp		347,999
	22,771	*	NetSuite, Inc		1,453
	227,370	*	NeuStar, Inc (Class A)		9,102
	626,624	*	Nuance Communications, Inc		15,597
	6,734,245		Oracle Corp		212,061
	238,447		Paychex, Inc		7,938
	87,066	*	Rackspace Hosting, Inc		5,754
	1,142,067	*	Red Hat, Inc		65,029
	20,285	*	Rovi Corp		294
	66,311		SAIC, Inc		798
	243,743	*	Salesforce.com, Inc		37,217
	7,900	*	ServiceNow, Inc		306
	44,821	*	SolarWinds, Inc		2,498
	50,540		Solera Holdings, Inc		2,217
	11,287	*,m	Splunk, Inc		414
	29,165	*	Symantec Corp		525
	7,583	*	Synopsys, Inc		250
	791,800		Tencent Holdings Ltd		26,807
	245,200	*	Teradata Corp		18,491
	130,173	*	TIBCO Software, Inc		3,935
	101,155		Total System Services, Inc		2,397
	28,770	*	Vantiv, Inc		620
	78,206	*	VeriFone Systems, Inc		2,178
	414,365		VeriSign, Inc		20,175
	1,493,508		Visa, Inc (Class A)		200,547
	273,209	*	VMware, Inc (Class A)		26,430
	486,211		Western Union Co		8,859
	95,660	*,e	Zynga, Inc		272
			TOTAL SOFTWARE & SERVICES	$	2,816,983

243

COLLEGE RETIREMENT EQUITIES FUND - Growth Account

SHARES			COMPANY	VALUE (000)
TECHNOLOGY HARDWARE & EQUIPMENT - 12.2%
	39,995	*,e	Acme Packet, Inc	$	684
	128,531		Amphenol Corp (Class A)		7,568
	2,028,637	d	Apple, Inc		1,353,627
	174,200	*	Arrow Electronics, Inc		5,872
	333,900		Cisco Systems, Inc		6,374
	674,285		Dell, Inc		6,648
	21,248	*	Dolby Laboratories, Inc (Class A)		696
	7,602	*	EchoStar Corp (Class A)		218
	5,509,523	*	EMC Corp		150,245
	282,808	*	F5 Networks, Inc		29,610
	89,756		Flir Systems, Inc		1,793
	49,012	*,e	Fusion-io, Inc		1,484
	22,792		Harris Corp		1,167
	23,107	*,e	IPG Photonics Corp		1,324
	386,278		Jabil Circuit, Inc		7,231
	1,338,444	*	Juniper Networks, Inc		22,901
	230,482		Motorola, Inc		11,651
	64,945		National Instruments Corp		1,635
	115,373	*	NCR Corp		2,689
	434,340	*	NetApp, Inc		14,281
	13,522	*,e	Palo Alto Networks, Inc		833
	3,683,912		Qualcomm, Inc		230,208
	109,641	*	Riverbed Technology, Inc		2,551
	99,810	*	Trimble Navigation Ltd		4,757
	69,317		Western Digital Corp		2,685
	9,132	*	Zebra Technologies Corp (Class A)		343
			TOTAL TECHNOLOGY HARDWARE & EQUIPMENT		1,869,075
TELECOMMUNICATION SERVICES - 1.5%
	363,844	*	Crown Castle International Corp		23,322
	60,757	*	Level 3 Communications, Inc		1,396
	310,203	*	SBA Communications Corp (Class A)		19,512
	109,379	*	tw telecom inc (Class A)		2,852
	3,831,339		Verizon Communications, Inc		174,594
	254,246	e	Windstream Corp		2,570
			TOTAL TELECOMMUNICATION SERVICES		224,246
TRANSPORTATION - 1.9%
	236,046		CH Robinson Worldwide, Inc		13,820
	22,168		Con-Way, Inc		607
	54,685		Copa Holdings S.A. (Class A)		4,444
	1,070,133		CSX Corp		22,205
	425,309	*	Delta Air Lines, Inc		3,896
	269,923		Expeditors International Washington, Inc		9,814
	284,684		FedEx Corp		24,090
	1,923,780	*	Hertz Global Holdings, Inc		26,413
	71,759		J.B. Hunt Transport Services, Inc		3,734
	68,495		Kansas City Southern Industries, Inc		5,191
	27,218	*	Kirby Corp		1,505

244

COLLEGE RETIREMENT EQUITIES FUND - Growth Account

SHARES			COMPANY	RATE	MATURITY DATE	VALUE (000)
	105,830		Landstar System, Inc			$	5,004
	97,746		Ryder System, Inc				3,818
	99,264		Southwest Airlines Co				871
	264,886	*,e	UAL Corp				5,165
	631,159		Union Pacific Corp				74,919
	1,306,530		United Parcel Service, Inc (Class B)				93,509
			TOTAL TRANSPORTATION				299,005
UTILITIES - 0.1%
	11,527		Aqua America, Inc				285
	36,553		ITC Holdings Corp				2,763
	164,111		Oneok, Inc				7,928
	29,152		Questar Corp				593
			TOTAL UTILITIES				11,569
			TOTAL COMMON STOCKS				15,218,268
			(Cost $12,375,352)
RIGHTS / WARRANTS - 0.0%
RETAILING - 0.0%
	1,155		Liberty Ventures				16
			TOTAL RETAILING				16
			TOTAL RIGHTS / WARRANTS				16
			(Cost $13)

PRINCIPAL		ISSUER
SHORT-TERM INVESTMENTS - 1.9%
TREASURY DEBT - 0.9%
$	3,100,000	United States Treasury Bill	0.048	%	10/04/12	3,100
	41,800,000	United States Treasury Bill	0.060-0.073		10/18/12	41,799
	26,750,000	United States Treasury Bill	0.041-0.050		10/25/12	26,749
	150,000	United States Treasury Bill	0.095		11/01/12	150
	14,900,000	United States Treasury Bill	0.090		11/08/12	14,899
	37,500,000	United States Treasury Bill	0.075-0.095		11/29/12	37,496
	13,800,000	United States Treasury Bill	0.091		12/06/12	13,798
		TOTAL TREASURY DEBT				137,991

SHARES			COMPANY
INVESTMENTS IN REGISTERED INVESTMENT COMPANIES - 1.0%
	148,959,956	a,c	TIAA-CREF Short Term Lending Portfolio of the State Street
			Navigator Securities Lending Trust	148,960
			TOTAL INVESTMENTS IN REGISTERED INVESTMENT COMPANIES	148,960

245

COLLEGE RETIREMENT EQUITIES FUND - Growth Account

SHARES	COMPANY	VALUE (000)
	TOTAL SHORT-TERM INVESTMENTS	$	286,951
	(Cost $286,949)
	TOTAL INVESTMENTS - 101.2%		15,505,235
	(Cost $12,662,314)
	OTHER ASSETS & LIABILITIES, NET - (1.2)%		(190,654	)
	NET ASSETS - 100.0%	$	15,314,581

	Abbreviation(s):
ADR	American Depositary Receipt
*	Non-income producing.
a	Affiliated holding.
c	Investments made with cash collateral received from securites on loan.
d	All or a portion of these securities have been segregated by the custodian to cover margin or other requirements on open futures transactions.
e	All or a portion of these securities are out on loan. The aggregate value of securities on loan is $146,102,000.
m	Indicates a security that has been deemed illiquid.
	Cost amounts are in thousands.

246

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

COLLEGE RETIREMENT EQUITIES FUND
EQUITY INDEX ACCOUNT
SCHEDULE OF INVESTMENTS (unaudited)
September 30, 2012

SHARES			COMPANY	VALUE (000)
COMMON STOCKS - 99.8%
AUTOMOBILES & COMPONENTS - 0.8%
	19,682	e	Allison Transmission Holdings, Inc	$	396
	51,119	*	American Axle & Manufacturing Holdings, Inc		576
	87,437	*	BorgWarner, Inc		6,042
	45,804		Cooper Tire & Rubber Co		879
	110,265		Dana Holding Corp		1,356
	250,536	*	Delphi Automotive plc		7,766
	18,492	*	Dorman Products, Inc		583
	16,941		Drew Industries, Inc		512
	58,919	*	Exide Technologies		183
	13,635	*	Federal Mogul Corp (Class A)		125
	2,861,177		Ford Motor Co		28,211
	13,714	*,e	Fuel Systems Solutions, Inc		236
	584,896	*	General Motors Co		13,306
	109,188		Gentex Corp		1,857
	27,497	*	Gentherm, Inc		342
	184,702	*	Goodyear Tire & Rubber Co		2,252
	176,709		Harley-Davidson, Inc		7,487
	519,514		Johnson Controls, Inc		14,234
	77,470		Lear Corp		2,928
	36,302	*	Modine Manufacturing Co		268
	4,154		Shiloh Industries, Inc		47
	30,024		Spartan Motors, Inc		150
	16,669		Standard Motor Products, Inc		307
	20,247	*	Stoneridge, Inc		101
	17,815		Superior Industries International, Inc		304
	46,120	*	Tenneco, Inc		1,291
	49,932	*,e	Tesla Motors, Inc		1,462
	33,978		Thor Industries, Inc		1,234
	5,700	*	Tower International, Inc		44
	77,381	*	TRW Automotive Holdings Corp		3,382
	40,138	*	Visteon Corp		1,785
	24,826	*,e	Winnebago Industries, Inc		314
			TOTAL AUTOMOBILES & COMPONENTS		99,960
BANKS - 3.4%
	11,459		1st Source Corp		255
	17,104	*	1st United Bancorp, Inc		110
	5,520		Access National Corp		75
	3,251		Alliance Financial Corp		131
	5,882		American National Bankshares, Inc		133
	18,171	*	Ameris Bancorp		229
	4,648	e	Ames National Corp		97
	18,000		Apollo Residential Mortgage		397
	7,061	e	Arrow Financial Corp		177

247

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

SHARES			COMPANY	VALUE (000)
	130,985		Associated Banc-Corp	$	1,725
	66,701	e	Astoria Financial Corp		659
	5,016		Bancfirst Corp		215
	21,466		Banco Latinoamericano de Exportaciones S.A. (Class E)		474
	73,283		Bancorpsouth, Inc		1,080
	41,404		Bank Mutual Corp		188
	38,126		Bank of Hawaii Corp		1,739
	4,416	e	Bank of Kentucky Financial Corp		122
	3,864		Bank of Marin Bancorp		164
	22,826		Bank of the Ozarks, Inc		787
	17,629	e	BankFinancial Corp		155
	25,535		BankUnited		628
	12,480		Banner Corp		338
	3,044	e	Bar Harbor Bankshares		109
	531,598		BB&T Corp		17,628
	57,116	*	BBCN Bancorp, Inc		720
	23,421	*	Beneficial Mutual Bancorp, Inc		224
	16,854		Berkshire Hills Bancorp, Inc		386
	5,599	*	BofI Holding, Inc		146
	21,305		BOK Financial Corp		1,259
	59,217		Boston Private Financial Holdings, Inc		568
	4,741		Bridge Bancorp, Inc		111
	7,190	*,e	Bridge Capital Holdings		111
	54,590		Brookline Bancorp, Inc		481
	8,337		Bryn Mawr Bank Corp		187
	6,191	*	BSB Bancorp, Inc		80
	2,500		C&F Financial Corp		98
	5,527		Camden National Corp		205
	8,819	*	Cape Bancorp, Inc		83
	9,158	e	Capital City Bank Group, Inc		97
	177,657		CapitalSource, Inc		1,347
	128,335		Capitol Federal Financial		1,535
	22,480		Cardinal Financial Corp		321
	61,647		Cathay General Bancorp		1,064
	9,768		Center Bancorp, Inc		116
	16,756		Centerstate Banks of Florida, Inc		149
	16,733	*	Central Pacific Financial Corp		239
	2,883		Century Bancorp, Inc		92
	18,856		Chemical Financial Corp		456
	153,338	*	CIT Group, Inc		6,040
	9,568		Citizens & Northern Corp		188
	30,246	*	Citizens Republic Bancorp, Inc		585
	12,921	e	City Holding Co		463
	35,413		City National Corp		1,824
	10,007		Clifton Savings Bancorp, Inc		110
	6,672		CNB Financial Corp		117
	21,290		CoBiz, Inc		149
	31,348		Columbia Banking System, Inc		581
	150,256		Comerica, Inc		4,665
	59,084		Commerce Bancshares, Inc		2,383
	28,981		Community Bank System, Inc		817
	11,562	e	Community Trust Bancorp, Inc		411

248

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

SHARES			COMPANY	VALUE (000)
	42,027		Cullen/Frost Bankers, Inc	$	2,414
	67,239	e	CVB Financial Corp		803
	23,810		Dime Community Bancshares		344
	96,753	*	Doral Financial Corp		91
	12,747	*	Eagle Bancorp, Inc		213
	111,043		East West Bancorp, Inc		2,345
	4,559	e	Enterprise Bancorp, Inc		78
	11,656		Enterprise Financial Services Corp		159
	8,385	e	ESB Financial Corp		117
	12,436		ESSA Bancorp, Inc		129
	16,542		EverBank Financial Corp		228
	14,022	e	Farmers National Banc Corp		91
	7,387		Federal Agricultural Mortgage Corp (Class C)		190
	6,828	e	Fidelity Southern Corp		65
	703,677		Fifth Third Bancorp		10,914
	7,979		Financial Institutions, Inc		149
	9,860		First Bancorp (NC)		114
	54,501	*	First Bancorp (Puerto Rico)		241
	6,485		First Bancorp, Inc		114
	58,052		First Busey Corp		283
	16,444	*	First California Financial Group, Inc		114
	4,123		First Citizens Bancshares, Inc (Class A)		672
	84,375		First Commonwealth Financial Corp		595
	12,139		First Community Bancshares, Inc		185
	13,926		First Connecticut Bancorp		188
	7,726		First Defiance Financial Corp		133
	44,691		First Financial Bancorp		756
	26,120	e	First Financial Bankshares, Inc		941
	8,954		First Financial Corp		281
	12,966		First Financial Holdings, Inc		168
	12,796	*	First Financial Northwest, Inc		103
	197,967		First Horizon National Corp		1,906
	9,546		First Interstate Bancsystem, Inc		143
	19,481		First Merchants Corp		292
	57,533		First Midwest Bancorp, Inc		722
	263,698		First Niagara Financial Group, Inc		2,133
	5,749		First of Long Island Corp		177
	6,248		First Pactrust Bancorp, Inc		78
	77,940		First Republic Bank		2,686
	82,846		FirstMerit Corp		1,220
	23,200		Flushing Financial Corp		367
	106,793		FNB Corp		1,197
	7,261	*,e	FNB United Corp		86
	11,394		Fox Chase Bancorp, Inc		178
	10,443	*	Franklin Financial Corp		178
	152,821		Fulton Financial Corp		1,507
	8,476		German American Bancorp, Inc		204
	56,600		Glacier Bancorp, Inc		882
	7,809		Great Southern Bancorp, Inc		241
	55,830	*,e	Guaranty Bancorp		113
	14,437	*	Hampton Roads Bankshares, Inc		22
	58,181		Hancock Holding Co		1,801

249

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

SHARES			COMPANY	VALUE (000)
	23,963	*	Hanmi Financial Corp	$	307
	10,342	e	Heartland Financial USA, Inc		282
	15,254	*	Heritage Commerce Corp		106
	11,990		Heritage Financial Corp		180
	6,199		Heritage Financial Group		81
	14,409	*,e	Heritage Oaks Bancorp		83
	939	e	Hingham Institution for Savings		60
	5,389	*	Home Bancorp, Inc		97
	18,696		Home Bancshares, Inc		637
	12,641		Home Federal Bancorp, Inc		143
	10,000		Home Loan Servicing Solutions Ltd		163
	3,494	*	HomeStreet, Inc		133
	5,500	*	HomeTrust Bancshares, Inc		73
	2,726		Horizon Bancorp		78
	392,635		Hudson City Bancorp, Inc		3,125
	11,015		Hudson Valley Holding Corp		188
	664,830		Huntington Bancshares, Inc		4,587
	22,391		IBERIABANK Corp		1,026
	17,904	e	Independent Bank Corp		539
	40,567		International Bancshares Corp		773
	33,889	*	Investors Bancorp, Inc		618
	14,732		Kearny Financial Corp		143
	728,383		Keycorp		6,366
	7,275		K-Fed Bancorp		110
	20,622		Lakeland Bancorp, Inc		213
	12,420		Lakeland Financial Corp		343
	96,572	e	M&T Bank Corp		9,190
	15,363		MainSource Financial Group, Inc		197
	41,491		MB Financial, Inc		819
	6,437	*	Mercantile Bank Corp		110
	3,784		Merchants Bancshares, Inc		112
	7,250	*	Meridian Interstate Bancorp, Inc		120
	11,922	*	MetroCorp Bancshares, Inc		126
	142,224	*,e	MGIC Investment Corp		218
	4,068		Middleburg Financial Corp		72
	3,556		Midsouth Bancorp, Inc		58
	5,257		MidWestOne Financial Group, Inc		113
	2,927	*,e	NASB Financial, Inc		73
	5,351	e	National Bankshares, Inc		178
	101,297		National Penn Bancshares, Inc		923
	14,584	*,e	Nationstar Mortgage Holdings, Inc		484
	27,027		NBT Bancorp, Inc		596
	331,783	e	New York Community Bancorp, Inc		4,698
	14,313		Northfield Bancorp, Inc		229
	4,751		Northrim BanCorp, Inc		96
	81,183		Northwest Bancshares, Inc		993
	10,808		OceanFirst Financial Corp		159
	80,790	*	Ocwen Financial Corp		2,214
	76,288		Old National Bancorp		1,038
	9,164	*	OmniAmerican Bancorp, Inc		208
	33,903	e	Oriental Financial Group, Inc		357
	40,271		Oritani Financial Corp		606

250

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

SHARES			COMPANY	VALUE (000)
	2,800	*	Pacific Capital Bancorp	$	129
	14,467		Pacific Continental Corp		129
	7,850	*	Pacific Mercantile Bancorp		51
	27,050		PacWest Bancorp		632
	10,731	e	Park National Corp		751
	22,441	*	Park Sterling Bank		111
	6,595		Peapack Gladstone Financial Corp		108
	2,964		Penns Woods Bancorp, Inc		131
	10,509	*	Pennsylvania Commerce Bancorp, Inc		133
	6,808		Peoples Bancorp, Inc		156
	4,902	e	Peoples Federal Bancshares, Inc		85
	273,155		People’s United Financial, Inc		3,316
	25,469	*	Pinnacle Financial Partners, Inc		492
	405,070		PNC Financial Services Group, Inc		25,561
	77,233	*	Popular, Inc		1,346
	8,859	*	Preferred Bank		126
	45,847		PrivateBancorp, Inc		733
	35,938		Prosperity Bancshares, Inc		1,532
	7,003		Provident Financial Holdings, Inc		100
	45,191		Provident Financial Services, Inc		714
	30,181		Provident New York Bancorp		284
	110,376	e	Radian Group, Inc		479
	1,076,498		Regions Financial Corp		7,762
	19,501		Renasant Corp		382
	6,104		Republic Bancorp, Inc (Class A)		134
	22,920		Rockville Financial, Inc		281
	7,271	e	Roma Financial Corp		65
	20,998		S&T Bancorp, Inc		370
	8,198	e	S.Y. Bancorp, Inc		194
	18,232		Sandy Spring Bancorp, Inc		351
	11,445		SCBT Financial Corp		461
	55,743	*	Seacoast Banking Corp of Florida		89
	7,907		SI Financial Group, Inc		93
	8,919		Sierra Bancorp		109
	36,419	*	Signature Bank		2,443
	13,207		Simmons First National Corp (Class A)		322
	12,186		Southside Bancshares, Inc		266
	14,769	*	Southwest Bancorp, Inc		160
	24,453		State Bank & Trust Co		403
	16,183		StellarOne Corp		213
	27,752		Sterling Bancorp		275
	20,641		Sterling Financial Corp		460
	7,140	*	Suffolk Bancorp		105
	29,193	*	Sun Bancorp, Inc		98
	410,690		SunTrust Banks, Inc		11,610
	147,939		Susquehanna Bancshares, Inc		1,547
	33,751	*	SVB Financial Group		2,041
	597,443		Synovus Financial Corp		1,416
	12,643	*	Taylor Capital Group, Inc		216
	122,960		TCF Financial Corp		1,468
	9,400		Territorial Bancorp, Inc		216
	29,620	*	Texas Capital Bancshares, Inc		1,472

251

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

SHARES			COMPANY	VALUE (000)
	61,768	*	TFS Financial Corp	$	560
	16,995	*	The Bancorp, Inc		175
	7,054		Tompkins Trustco, Inc		286
	18,385	e	TowneBank		282
	4,100	*	Tree.com, Inc		64
	9,919		Trico Bancshares		164
	72,196		Trustco Bank Corp NY		413
	49,168		Trustmark Corp		1,197
	24,801		UMB Financial Corp		1,207
	85,518		Umpqua Holdings Corp		1,102
	14,087		Union Bankshares Corp		219
	38,221	e	United Bankshares, Inc		952
	31,617	*	United Community Banks, Inc		265
	15,445		United Financial Bancorp, Inc		223
	12,704		Univest Corp of Pennsylvania		229
	1,445,110		US Bancorp		49,568
	147,776	e	Valley National Bancorp		1,481
	26,270		ViewPoint Financial Group		504
	20,684	*	Virginia Commerce Bancorp		181
	7,900	*	Walker & Dunlop, Inc		121
	12,184		Washington Banking Co		173
	81,549		Washington Federal, Inc		1,360
	10,818		Washington Trust Bancorp, Inc		284
	52,669		Webster Financial Corp		1,248
	3,737,902		Wells Fargo & Co		129,071
	19,012		WesBanco, Inc		394
	11,970		West Bancorporation, Inc		144
	14,484	*	West Coast Bancorp		326
	21,201	e	Westamerica Bancorporation		998
	59,188	*	Western Alliance Bancorp		604
	23,121		Westfield Financial, Inc		173
	44,266	*	Wilshire Bancorp, Inc		279
	27,726		Wintrust Financial Corp		1,042
	5,884		WSFS Financial Corp		243
	139,772		Zions Bancorporation		2,887
			TOTAL BANKS		410,355
CAPITAL GOODS - 7.9%
	530,981		3M Co		49,074
	29,148		A.O. Smith Corp		1,678
	13,279		Aaon, Inc		261
	29,552		AAR Corp		485
	30,986	*	Accuride Corp		144
	17,815		Aceto Corp		168
	52,376		Actuant Corp (Class A)		1,499
	31,651		Acuity Brands, Inc		2,003
	86,169	*	Aecom Technology Corp		1,823
	28,439	*	Aegion Corp		545
	14,335	*	Aerovironment, Inc		336
	74,189	*	AGCO Corp		3,522
	49,377	*,e	Air Lease Corp		1,007
	43,373		Aircastle Ltd		491

252

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

SHARES			COMPANY	VALUE (000)
	4,490		Alamo Group, Inc	$	152
	23,047		Albany International Corp (Class A)		506
	25,266		Alliant Techsystems, Inc		1,266
	18,705		Altra Holdings, Inc		340
	13,776	*	Ameresco, Inc		163
	7,032	*	American Railcar Industries, Inc		199
	7,536		American Science & Engineering, Inc		494
	35,994	*,e	American Superconductor Corp		149
	8,518	*	American Woodmark Corp		170
	184,500		Ametek, Inc		6,541
	8,632		Ampco-Pittsburgh Corp		159
	24,223	*,e	API Technologies Corp		70
	25,458		Apogee Enterprises, Inc		499
	32,556		Applied Industrial Technologies, Inc		1,349
	5,631		Argan, Inc		98
	16,319		Armstrong World Industries, Inc		757
	73,192	*	ArvinMeritor, Inc		310
	15,638	*	Astec Industries, Inc		494
	7,762	*	Astronics Corp		239
	21,118		AZZ, Inc		802
	90,144	*	Babcock & Wilcox Co		2,296
	39,660		Barnes Group, Inc		992
	74,030	*	BE Aerospace, Inc		3,117
	35,044	*	Beacon Roofing Supply, Inc		999
	34,599		Belden CDT, Inc		1,276
	35,059	*	Blount International, Inc		461
	17,407	*,e	Bluelinx Holdings, Inc		41
	571,948		Boeing Co		39,819
	37,869		Brady Corp (Class A)		1,109
	39,839	e	Briggs & Stratton Corp		744
	33,815	*	Builders FirstSource, Inc		175
	9,868	*	CAI International, Inc		202
	274,193	*,e	Capstone Turbine Corp		274
	46,691		Carlisle Cos, Inc		2,424
	7,045		Cascade Corp		386
	498,090		Caterpillar, Inc		42,857
	19,168		Ceradyne, Inc		468
	23,760	*	Chart Industries, Inc		1,755
	74,182	e	Chicago Bridge & Iron Co NV		2,826
	12,832		CIRCOR International, Inc		484
	38,968		Clarcor, Inc		1,739
	21,101	*	CNH Global NV		818
	6,482	e	Coleman Cable, Inc		62
	38,377	*,e	Colfax Corp		1,407
	12,813	*	Columbus McKinnon Corp		194
	33,040		Comfort Systems USA, Inc		361
	18,507	*	Commercial Vehicle Group, Inc		136
	121,480		Cooper Industries plc		9,118
	4,761	*	CPI Aerostructures, Inc		52
	38,179		Crane Co		1,524
	12,848		Cubic Corp		643
	146,737		Cummins, Inc		13,531

253

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

SHARES			COMPANY	VALUE (000)
	35,284		Curtiss-Wright Corp	$	1,154
	443,993		Danaher Corp		24,486
	303,700		Deere & Co		25,053
	26,753	*,e	DigitalGlobe, Inc		545
	113,848		Donaldson Co, Inc		3,952
	14,128		Douglas Dynamics, Inc		209
	140,993		Dover Corp		8,388
	6,613	*	DXP Enterprises, Inc		316
	25,816	*	Dycom Industries, Inc		371
	12,440		Dynamic Materials Corp		187
	4,594	e	Eastern Co		86
	257,876	e	Eaton Corp		12,187
	11,908	*	Edgen Group, Inc		92
	50,074		EMCOR Group, Inc		1,429
	561,469		Emerson Electric Co		27,103
	15,305		Encore Wire Corp		448
	25,675	*,e	Energy Recovery, Inc		76
	37,162	*	EnerSys		1,311
	12,394	*,e	Engility Holdings, Inc		229
	15,889	*	EnPro Industries, Inc		572
	20,938		ESCO Technologies, Inc		813
	23,350	*	Esterline Technologies Corp		1,311
	139,194		Exelis, Inc		1,439
	226,019		Fastenal Co		9,718
	50,117	*	Federal Signal Corp		317
	26,655	*	Flow International Corp		99
	39,008		Flowserve Corp		4,983
	129,217		Fluor Corp		7,273
	117,473	*	Fortune Brands Home & Security, Inc		3,174
	18,245		Franklin Electric Co, Inc		1,104
	12,439		Freightcar America, Inc		221
	89,877	*,e	FuelCell Energy, Inc		79
	25,764	*	Furmanite Corp		146
	39,732		Gardner Denver, Inc		2,400
	35,871		GATX Corp		1,522
	42,477	*	GenCorp, Inc		403
	18,874		Generac Holdings, Inc		432
	40,126	*	General Cable Corp		1,179
	242,634		General Dynamics Corp		16,043
	8,084,332		General Electric Co		183,596
	15,468	*	GeoEye, Inc		409
	20,138	*	Gibraltar Industries, Inc		258
	12,250		Global Power Equipment Group, Inc		227
	12,953		Gorman-Rupp Co		350
	46,150		Graco, Inc		2,320
	93,433	*	GrafTech International Ltd		840
	12,308		Graham Corp		222
	29,395		Granite Construction, Inc		844
	44,924		Great Lakes Dredge & Dock Corp		346
	15,067	*	Greenbrier Cos, Inc		243
	37,869		Griffon Corp		390
	21,180		H&E Equipment Services, Inc		257

254

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

SHARES			COMPANY	VALUE (000)
	8,389		Hardinge, Inc	$	86
	61,544		Harsco Corp		1,263
	39,839		Heico Corp		1,541
	74,803	*	Hexcel Corp		1,797
	594,917		Honeywell International, Inc		35,546
	12,024		Houston Wire & Cable Co		129
	45,393		Hubbell, Inc (Class B)		3,665
	37,789	*	Huntington Ingalls		1,589
	4,796	*	Hurco Cos, Inc		110
	62,789		IDEX Corp		2,623
	39,772	*	II-VI, Inc		756
	325,059		Illinois Tool Works, Inc		19,332
	227,999		Ingersoll-Rand plc		10,219
	10,094		Insteel Industries, Inc		118
	69,597		ITT Corp		1,402
	98,521	*	Jacobs Engineering Group, Inc		3,984
	20,027		John Bean Technologies Corp		327
	80,876		Joy Global, Inc		4,534
	9,545	*	Kadant, Inc		221
	21,747		Kaman Corp		780
	25,042		Kaydon Corp		559
	113,401		KBR, Inc		3,382
	61,060		Kennametal, Inc		2,264
	14,447	*,e	KEYW Holding Corp		181
	24,942	*,e	Kratos Defense & Security Solutions, Inc		146
	74,364		L-3 Communications Holdings, Inc		5,333
	13,874	*	Layne Christensen Co		272
	7,262		LB Foster Co (Class A)		235
	38,988		Lennox International, Inc		1,886
	63,965		Lincoln Electric Holdings, Inc		2,498
	10,010	e	Lindsay Manufacturing Co		720
	6,398	*	LMI Aerospace, Inc		131
	199,117		Lockheed Martin Corp		18,594
	12,960		LSI Industries, Inc		87
	12,907	*	Lydall, Inc		182
	99,971	e	Manitowoc Co, Inc		1,334
	272,388		Masco Corp		4,100
	43,578	*	Mastec, Inc		858
	10,825		Met-Pro Corp		97
	7,039	*	Michael Baker Corp		168
	14,602	*	Middleby Corp		1,689
	7,280		Miller Industries, Inc		117
	34,691	*	Moog, Inc (Class A)		1,314
	17,106	*	MRC Global, Inc		421
	34,768		MSC Industrial Direct Co (Class A)		2,345
	21,466		Mueller Industries, Inc		976
	118,277		Mueller Water Products, Inc (Class A)		580
	13,261	*	MYR Group, Inc		265
	3,938	e	National Presto Industries, Inc		287
	46,747	*,e	Navistar International Corp		986
	19,754	*	NCI Building Systems, Inc		198
	12,459	*	NN, Inc		106

255

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

SHARES			COMPANY	VALUE (000)
	47,425		Nordson Corp	$	2,780
	6,024	*	Nortek, Inc		330
	191,980		Northrop Grumman Corp		12,753
	8,845	*	Northwest Pipe Co		218
	44,747	*	Orbital Sciences Corp		652
	19,593	*	Orion Marine Group, Inc		146
	69,175	*	Oshkosh Truck Corp		1,897
	93,019	*	Owens Corning, Inc		3,113
	272,631		Paccar, Inc		10,912
	88,975		Pall Corp		5,649
	114,637		Parker Hannifin Corp		9,581
	76,198	e	Pentair, Inc		3,392
	24,600		Perini Corp		281
	12,323	*	Pike Electric Corp		98
	13,529	*	PMFG, Inc		109
	35,438	*,e	Polypore International, Inc		1,253
	5,761	*	Powell Industries, Inc		223
	110,965		Precision Castparts Corp		18,125
	1,801		Preformed Line Products Co		98
	19,995		Primoris Services Corp		261
	3,700	*,e	Proto Labs, Inc		125
	28,579		Quanex Building Products Corp		538
	159,563	*	Quanta Services, Inc		3,941
	27,582		Raven Industries, Inc		812
	254,501		Raytheon Co		14,547
	16,219	*	RBC Bearings, Inc		780
	29,618		Regal-Beloit Corp		2,087
	21,768	*,e	Rexnord Corp		397
	29,287		Robbins & Myers, Inc		1,746
	108,971		Rockwell Automation, Inc		7,579
	111,391		Rockwell Collins, Inc		5,975
	74,501		Roper Industries, Inc		8,187
	24,579	*	Rush Enterprises, Inc (Class A)		473
	8,467		Sauer-Danfoss, Inc		340
	240	*	Seaboard Corp		542
	8,300		SeaCube Container Leasing Ltd		156
	51,148	*	Shaw Group, Inc		2,231
	31,950		Simpson Manufacturing Co, Inc		914
	44,614		Snap-On, Inc		3,206
	90,789	*	Spirit Aerosystems Holdings, Inc (Class A)		2,016
	37,552		SPX Corp		2,456
	11,927		Standex International Corp		530
	128,315		Stanley Works		9,784
	12,518	*	Sterling Construction Co, Inc		125
	15,189		Sun Hydraulics Corp		404
	8,737		Sypris Solutions, Inc		62
	21,485	e	TAL International Group, Inc		730
	44,785	*	Taser International, Inc		270
	28,168	*	Teledyne Technologies, Inc		1,786
	14,645		Tennant Co		627
	83,491	*	Terex Corp		1,885
	7,088	e	Textainer Group Holdings Ltd		217

256

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

SHARES			COMPANY	VALUE (000)
	211,407		Textron, Inc	$	5,533
	10,410	*	Thermon Group Holdings		260
	66,676		Timken Co		2,478
	32,571	e	Titan International, Inc		575
	11,613	*,e	Titan Machinery, Inc		236
	45,144		Toro Co		1,796
	39,014	*	TransDigm Group, Inc		5,535
	13,203	*	Trex Co, Inc		450
	24,820	*	Trimas Corp		598
	61,064		Trinity Industries, Inc		1,830
	38,084		Triumph Group, Inc		2,381
	6,504	e	Twin Disc, Inc		116
	70,844	*	United Rentals, Inc		2,317
	695,416		United Technologies Corp		54,443
	14,766		Universal Forest Products, Inc		613
	57,668		URS Corp		2,036
	58,472	*,e	USG Corp		1,283
	17,556		Valmont Industries, Inc		2,309
	12,845		Vicor Corp		86
	44,645		W.W. Grainger, Inc		9,303
	52,045	*	Wabash National Corp		371
	50,019	*	WABCO Holdings, Inc		2,885
	22,186		Watsco, Inc		1,681
	23,144		Watts Water Technologies, Inc (Class A)		876
	33,347	*	WESCO International, Inc		1,907
	35,993		Westinghouse Air Brake Technologies Corp		2,890
	4,376	*	Willis Lease Finance Corp		54
	52,887		Woodward Governor Co		1,797
	139,194		Xylem, Inc		3,501
			TOTAL CAPITAL GOODS		961,047
COMMERCIAL & PROFESSIONAL SERVICES - 1.1%
	41,289		ABM Industries, Inc		782
	37,820	*	Acacia Research (Acacia Technologies)		1,037
	87,875	*	ACCO Brands Corp		570
	13,021		Acorn Energy, Inc		116
	16,355		Administaff, Inc		413
	25,530	*	Advisory Board Co		1,221
	14,202		American Ecology Corp		306
	26,021	*	American Reprographics Co		111
	12,860	*,e	Asset Acceptance Capital Corp		96
	8,882		Asta Funding, Inc		83
	7,698	*	AT Cross Co		77
	79,016		Avery Dennison Corp		2,514
	6,166		Barrett Business Services, Inc		167
	35,828		Brink’s Co		920
	19,056	*	Casella Waste Systems, Inc (Class A)		82
	41,673	*,e	CBIZ, Inc		251
	7,981		CDI Corp		136
	38,005	*,e	Cenveo, Inc		87
	83,968		Cintas Corp		3,480
	36,298	*	Clean Harbors, Inc		1,773

257

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

SHARES			COMPANY	VALUE (000)
	8,210	*	Consolidated Graphics, Inc	$	214
	85,446	*,e	Coolbrands International, Inc		118
	80,516	*	Copart, Inc		2,233
	27,057		Corporate Executive Board Co		1,451
	76,892		Corrections Corp of America		2,572
	6,267		Courier Corp		77
	83,398		Covanta Holding Corp		1,431
	8,400	*	CRA International, Inc		145
	37,676		Deluxe Corp		1,151
	23,101	*	Dolan Media Co		124
	34,283		Dun & Bradstreet Corp		2,730
	16,926	*	Encore Capital Group, Inc		478
	67,718	*	EnergySolutions, Inc		185
	20,747	*,e	EnerNOC, Inc		269
	17,307		Ennis, Inc		284
	93,656		Equifax, Inc		4,361
	11,236	*	Exponent, Inc		641
	9,375	*	Franklin Covey Co		113
	32,036	*	FTI Consulting, Inc		855
	15,088		G & K Services, Inc (Class A)		472
	46,889		Geo Group, Inc		1,297
	12,104	*	GP Strategies Corp		234
	49,713		Healthcare Services Group		1,137
	14,300		Heidrick & Struggles International, Inc		182
	5,613	*,e	Heritage-Crystal Clean, Inc		111
	43,782		Herman Miller, Inc		851
	17,074	*	Hill International, Inc		74
	33,809		HNI Corp		862
	24,166	*	Hudson Highland Group, Inc		108
	16,505	*	Huron Consulting Group, Inc		575
	14,961	*	ICF International, Inc		301
	114,792	*,e	ICO Global Communications Holdings Ltd		130
	38,396	*	IHS, Inc (Class A)		3,738
	22,974	*,e	Innerworkings, Inc		299
	44,922		Interface, Inc		593
	6,998	e	Intersections, Inc		74
	117,434		Iron Mountain, Inc		4,007
	21,500	*	KAR Auction Services, Inc		424
	20,372		Kelly Services, Inc (Class A)		257
	21,985	*	Kforce, Inc		259
	25,171		Kimball International, Inc (Class B)		308
	35,963		Knoll, Inc		502
	34,304	*	Korn/Ferry International		526
	62,295		Manpower, Inc		2,292
	17,708		McGrath RentCorp		462
	39,317	*	Metalico, Inc		101
	21,996		Mine Safety Appliances Co		820
	13,300	*	Mistras Group, Inc		309
	28,189	*	Mobile Mini, Inc		471
	8,734		Multi-Color Corp		202
	40,393	*	Navigant Consulting, Inc		446
	92,217	*	Nielsen Holdings NV		2,765

258

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

SHARES			COMPANY	VALUE (000)
	4,943		NL Industries, Inc	$	57
	50,328	*,e	Odyssey Marine Exploration, Inc		159
	33,022	*	On Assignment, Inc		658
	6,800	*	Performant Financial Corp		73
	133,197	e	Pitney Bowes, Inc		1,841
	13,016	*	Portfolio Recovery Associates, Inc		1,359
	19,286	e	Quad		327
	137,806	e	R.R. Donnelley & Sons Co		1,461
	231,437		Republic Services, Inc		6,368
	32,857		Resources Connection, Inc		431
	112,120		Robert Half International, Inc		2,986
	50,683		Rollins, Inc		1,185
	16,511	*	RPX Corp		185
	10,767		Schawk, Inc (Class A)		141
	12,140	*	Standard Parking Corp		272
	54,705		Steelcase, Inc (Class A)		539
	64,951	*	Stericycle, Inc		5,880
	31,978	*	SYKES Enterprises, Inc		430
	15,368	*	Team, Inc		489
	47,935	*	Tetra Tech, Inc		1,259
	9,816	*	TMS International Corp		97
	46,448		Towers Watson & Co		2,464
	13,579	*	TRC Cos, Inc		102
	36,370	*	TrueBlue, Inc		572
	353,546		Tyco International Ltd		19,890
	11,503		Unifirst Corp		768
	31,063		United Stationers, Inc		808
	112,125	*	Verisk Analytics, Inc		5,337
	15,178		Viad Corp		317
	2,793		VSE Corp		68
	4,634	*	WageWorks, Inc		81
	94,121		Waste Connections, Inc		2,847
	350,415		Waste Management, Inc		11,242
			TOTAL COMMERCIAL & PROFESSIONAL SERVICES		129,536
CONSUMER DURABLES & APPAREL - 1.4%
	29,617	e	American Greetings Corp (Class A)		498
	9,523	*	Arctic Cat, Inc		395
	8,829		Bassett Furniture Industries, Inc		110
	129,102	*,e	Beazer Homes USA, Inc		458
	7,843	e	Blyth, Inc		204
	68,196		Brunswick Corp		1,543
	51,179	e	Callaway Golf Co		314
	37,626	*	Carter’s, Inc		2,026
	4,557	*	Cavco Industries, Inc		209
	5,581		Cherokee, Inc		81
	31,639	*	Clarus Corp		277
	219,388		Coach, Inc		12,291
	9,339	e	Columbia Sportswear Co		504
	68,785	*	CROCS, Inc		1,115
	5,480		CSS Industries, Inc		113
	6,895		Culp, Inc		81

259

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

SHARES			COMPANY	VALUE (000)
	29,784	*,e	Deckers Outdoor Corp	$	1,091
	4,329	*	Delta Apparel, Inc		60
	212,202		DR Horton, Inc		4,379
	18,783	e	Ethan Allen Interiors, Inc		412
	78,988	*,e	Fifth & Pacific Cos, Inc		1,009
	3,461		Flexsteel Industries, Inc		72
	41,666	*	Fossil, Inc		3,529
	82,384	*,e	Garmin Ltd		3,439
	13,268	*	G-III Apparel Group Ltd		476
	73,677	*	Hanesbrands, Inc		2,349
	53,605		Harman International Industries, Inc		2,474
	88,192	e	Hasbro, Inc		3,366
	23,782	*	Helen of Troy Ltd		757
	7,853	e	Hooker Furniture Corp		102
	76,275	*,e	Hovnanian Enterprises, Inc (Class A)		264
	54,965	*	Iconix Brand Group, Inc		1,003
	21,039	*,e	iRobot Corp		479
	20,248	e	Jakks Pacific, Inc		295
	61,707		Jarden Corp		3,261
	3,583	*	Johnson Outdoors, Inc		77
	66,643		Jones Apparel Group, Inc		858
	58,687	e	KB Home		842
	19,366	*,e	K-Swiss, Inc (Class A)		66
	39,237	*	La-Z-Boy, Inc		574
	34,167	*	Leapfrog Enterprises, Inc		308
	106,800		Leggett & Platt, Inc		2,675
	122,890	e	Lennar Corp (Class A)		4,272
	16,013	*	Libbey, Inc		253
	7,210		Lifetime Brands, Inc		86
	16,303	*	M/I Homes, Inc		315
	17,427	*	Maidenform Brands, Inc		357
	8,407		Marine Products Corp		50
	260,103		Mattel, Inc		9,229
	29,150		MDC Holdings, Inc		1,123
	22,694	*	Meritage Homes Corp		863
	63,961	*	Michael Kors Holdings Ltd		3,401
	43,299	*	Mohawk Industries, Inc		3,465
	12,667		Movado Group, Inc		427
	4,424		Nacco Industries, Inc (Class A)		555
	221,507		Newell Rubbermaid, Inc		4,229
	275,967		Nike, Inc (Class B)		26,193
	3,863	*	NVR, Inc		3,262
	10,106		Oxford Industries, Inc		570
	8,860	*	Perry Ellis International, Inc		195
	53,300		Phillips-Van Heusen Corp		4,995
	48,524		Polaris Industries, Inc		3,924
	36,161		Pool Corp		1,504
	256,906	*	Pulte Homes, Inc		3,982
	107,027	*	Quiksilver, Inc		355
	47,058		Ralph Lauren Corp		7,117
	6,477		RG Barry Corp		95
	35,106		Ryland Group, Inc		1,053

260

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

SHARES			COMPANY	VALUE (000)
	47,340	*,e	Sealy Corp	$	103
	27,339	*	Skechers U.S.A., Inc (Class A)		558
	12,508	*,e	Skullcandy, Inc		172
	52,271	*	Smith & Wesson Holding Corp		576
	83,238	*,e	Standard-Pacific Corp		563
	4,356	*	Steinway Musical Instruments, Inc		106
	30,111	*	Steven Madden Ltd		1,316
	14,503	e	Sturm Ruger & Co, Inc		718
	46,528	*	Tempur-Pedic International, Inc		1,391
	109,135	*	Toll Brothers, Inc		3,627
	19,300		True Religion Apparel, Inc		412
	16,316	*,e	Tumi Holdings, Inc		384
	42,641		Tupperware Corp		2,285
	57,954	*,e	Under Armour, Inc (Class A)		3,236
	10,905	*	Unifi, Inc		140
	11,370	*	Universal Electronics, Inc		200
	15,069	*,e	Vera Bradley, Inc		359
	66,632		VF Corp		10,619
	31,228	*	Warnaco Group, Inc		1,621
	5,214		Weyco Group, Inc		127
	57,906		Whirlpool Corp		4,800
	38,752	e	Wolverine World Wide, Inc		1,719
	28,030	*,e	Zagg, Inc		239
			TOTAL CONSUMER DURABLES & APPAREL		171,577
CONSUMER SERVICES - 2.2%
	18,260	*	AFC Enterprises		449
	13,862	*,e	American Public Education, Inc		505
	24,907		Ameristar Casinos, Inc		443
	73,307	*	Apollo Group, Inc (Class A)		2,130
	9,987	*	Ascent Media Corp (Series A)		539
	33,030	*	Bally Technologies, Inc		1,631
	18,782	*	BJ’s Restaurants, Inc		852
	14,000	*	Bloomin’ Brands, Inc		230
	9,987	*	Bluegreen Corp		63
	22,385		Bob Evans Farms, Inc		876
	37,877	*,e	Boyd Gaming Corp		267
	14,947	*	Bravo Brio Restaurant Group, Inc		217
	14,051	*,e	Bridgepoint Education, Inc		143
	57,602		Brinker International, Inc		2,033
	14,166	*	Buffalo Wild Wings, Inc		1,215
	27,800	*,e	Caesars Entertainment Corp		189
	12,593	*	Capella Education Co		442
	46,334	*	Career Education Corp		175
	16,070	*,e	Caribou Coffee Co, Inc		221
	317,506		Carnival Corp		11,570
	12,748		Carriage Services, Inc		123
	8,099	*	Carrols Restaurant Group, Inc		47
	14,608		CBRL Group, Inc		980
	15,042		CEC Entertainment, Inc		453
	46,024		Cheesecake Factory		1,645
	24,233	*	Chipotle Mexican Grill, Inc (Class A)		7,695

261

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

SHARES			COMPANY	VALUE (000)
	21,525	e	Choice Hotels International, Inc	$	689
	9,609		Churchill Downs, Inc		603
	5,100	*	Chuy’s Holdings, Inc		125
	23,500	*,e	Coinstar, Inc		1,057
	3,869		Collectors Universe		54
	59,209	*,e	Corinthian Colleges, Inc		141
	98,248		Darden Restaurants, Inc		5,477
	4,400	*	Del Frisco’s Restaurant Group, Inc		66
	75,312	*	Denny’s Corp		365
	50,888	e	DeVry, Inc		1,158
	11,939	*	DineEquity, Inc		669
	46,919		Domino’s Pizza, Inc		1,769
	57,083	e	Dunkin Brands Group, Inc		1,667
	21,777	*,e	Education Management Corp		68
	4,221		Einstein Noah Restaurant Group, Inc		75
	11,999	*	Fiesta Restaurant Group, Inc		190
	2,428		Frisch’s Restaurants, Inc		48
	30,359	*	Grand Canyon Education, Inc		714
	209,732		H&R Block, Inc		3,634
	47,975		Hillenbrand, Inc		873
	33,800	*	Hyatt Hotels Corp		1,357
	4,863	*	Ignite Restaurant Group, Inc		68
	204,140		International Game Technology		2,672
	22,405		International Speedway Corp (Class A)		636
	33,777		Interval Leisure Group, Inc		639
	15,534	*	Isle of Capri Casinos, Inc		108
	18,743	*,e	ITT Educational Services, Inc		604
	33,770	*	Jack in the Box, Inc		949
	47,403	*	Jamba, Inc		106
	18,366	*,e	K12, Inc		371
	39,822	*	Krispy Kreme Doughnuts, Inc		316
	303,442		Las Vegas Sands Corp		14,071
	32,744	*	Life Time Fitness, Inc		1,498
	17,103		Lincoln Educational Services Corp		72
	13,766	*	Luby’s, Inc		93
	8,861		Mac-Gray Corp		119
	14,891		Marcus Corp		165
	196,233		Marriott International, Inc (Class A)		7,673
	19,786	*	Marriott Vacations Worldwide Corp		713
	23,085		Matthews International Corp (Class A)		688
	775,302		McDonald’s Corp		71,133
	310,088	*	MGM Mirage		3,333
	8,692	*	Monarch Casino & Resort, Inc		76
	23,956	*	Morgans Hotel Group Co		154
	17,243	*	MTR Gaming Group, Inc		73
	20,438	*	Multimedia Games, Inc		321
	2,018	*	Nathan’s Famous, Inc		63
	5,638		National American University Holdings, Inc		28
	78,277	*	Orient-Express Hotels Ltd (Class A)		697
	21,333	*	Panera Bread Co (Class A)		3,646
	14,983	*	Papa John’s International, Inc		800
	10,099	*,e	Peet’s Coffee & Tea, Inc		741

262

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

SHARES			COMPANY	VALUE (000)
	50,416	*	Penn National Gaming, Inc	$	2,173
	48,180	*	Pinnacle Entertainment, Inc		590
	21,234	*,e	Premier Exhibitions, Inc		50
	9,873	*	Red Lion Hotels Corp		62
	11,853	*	Red Robin Gourmet Burgers, Inc		386
	44,951		Regis Corp		826
	111,785		Royal Caribbean Cruises Ltd		3,377
	50,005	*	Ruby Tuesday, Inc		363
	26,831	*	Ruth’s Chris Steak House, Inc		171
	23,715	*	Ryman Hospitality Properties		937
	49,874	*	Scientific Games Corp (Class A)		412
	165,818		Service Corp International		2,232
	44,601	*	Shuffle Master, Inc		705
	30,384		Six Flags Entertainment Corp		1,787
	45,772	*	Sonic Corp		470
	51,448		Sotheby’s (Class A)		1,621
	9,984		Speedway Motorsports, Inc		154
	577,720		Starbucks Corp		29,319
	150,829		Starwood Hotels & Resorts Worldwide, Inc		8,742
	958	*	Steak N Shake Co		350
	11,970	*	Steiner Leisure Ltd		557
	68,986		Stewart Enterprises, Inc (Class A)		579
	9,323	e	Strayer Education, Inc		600
	42,904		Texas Roadhouse, Inc (Class A)		734
	16,126	*	Town Sports International Holdings, Inc		199
	15,190		Universal Technical Institute, Inc		208
	27,599		Vail Resorts, Inc		1,591
	20,124	e	Weight Watchers International, Inc		1,063
	230,986		Wendy’s		1,051
	43,711	*	WMS Industries, Inc		716
	111,352		Wyndham Worldwide Corp		5,844
	60,884		Wynn Resorts Ltd		7,028
	351,611		Yum! Brands, Inc		23,326
			TOTAL CONSUMER SERVICES		266,781
DIVERSIFIED FINANCIALS - 5.4%
	38,978	*	Affiliated Managers Group, Inc		4,794
	254,072	*	American Capital Ltd		2,881
	764,623		American Express Co		43,477
	167,051		Ameriprise Financial, Inc		9,470
	149,594		Apollo Investment Corp		1,177
	189,701		Ares Capital Corp		3,251
	21,300		Artio Global Investors, Inc		63
	8,214,789		Bank of America Corp		72,537
	910,707		Bank of New York Mellon Corp		20,601
	75,948		BGC Partners, Inc (Class A)		372
	54,667		BlackRock Kelso Capital Corp		531
	97,240		BlackRock, Inc		17,338
	16,951		Calamos Asset Management, Inc (Class A)		197
	442,667		Capital One Financial Corp		25,236
	2,167		Capital Southwest Corp		243
	22,738		Cash America International, Inc		877

263

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

SHARES			COMPANY	VALUE (000)
	66,839		CBOE Holdings, Inc	$	1,966
	820,091		Charles Schwab Corp		10,489
	2,235,189		Citigroup, Inc		73,135
	254,455		CME Group, Inc		14,580
	14,207	e	Cohen & Steers, Inc		421
	50,765	*	Cowen Group, Inc		137
	5,866	*	Credit Acceptance Corp		502
	9,816	*	Deerfield Capital Corp		72
	1,990		Diamond Hill Investment Group, Inc		153
	405,032		Discover Financial Services		16,092
	33,079	*	Dollar Financial Corp		567
	21,313		Duff & Phelps Corp		290
	216,676	*	E*Trade Financial Corp		1,909
	91,544		Eaton Vance Corp		2,651
	10,984		Epoch Holding Corp		254
	21,903		Evercore Partners, Inc (Class A)		591
	36,390	*	Ezcorp, Inc (Class A)		834
	39,284	*	FBR Capital Markets Corp		121
	69,691	e	Federated Investors, Inc (Class B)		1,442
	7,094		Fidus Investment Corp		118
	62,757	*,e	Fifth Street Finance Corp		689
	35,325	*,e	Financial Engines, Inc		842
	23,334	*	First Cash Financial Services, Inc		1,074
	58,259	*,e	First Marblehead Corp		61
	1,504	*	Firsthand Technology Value Fund, Inc		26
	107,910		Franklin Resources, Inc		13,496
	5,142	e	Friedman Billings Ramsey Group, Inc (Class A)		123
	17,300	e	FXCM, Inc		165
	7,000	e	Gain Capital Holdings, Inc		35
	6,584		GAMCO Investors, Inc (Class A)		328
	54,396		GFI Group, Inc		173
	15,081		Gladstone Capital Corp		132
	15,921		Gladstone Investment Corp		125
	375,149		Goldman Sachs Group, Inc		42,648
	10,597	e	Golub Capital BDC, Inc		168
	16,998	*,e	Green Dot Corp		208
	22,433	e	Greenhill & Co, Inc		1,161
	14,431	*,e	GSV Capital Corp		125
	16,757	*	Harris & Harris Group, Inc		64
	38,185		Hercules Technology Growth Capital, Inc		420
	22,560	*	HFF, Inc (Class A)		336
	4,930		Horizon Technology Finance Corp		80
	30,361		Interactive Brokers Group, Inc (Class A)		426
	55,972	*	IntercontinentalExchange, Inc		7,467
	12,794	*	International Assets Holding Corp		244
	32,107	*	Internet Capital Group, Inc		326
	342,435		Invesco Ltd		8,557
	34,884	*	Investment Technology Group, Inc		303
	13,500		iShares Russell 2000 Index Fund		1,127
	16,823	e	iShares Russell 3000 Index Fund		1,427
	140,813		Janus Capital Group, Inc		1,329
	105,291		Jefferies Group, Inc		1,441

264

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

SHARES			COMPANY	VALUE (000)
	11,011		JMP Group, Inc	$	60
	2,903,520		JPMorgan Chase & Co		117,534
	26,819	e	KBW, Inc		442
	15,310	e	KCAP Financial, Inc		142
	40,000	*	Knight Capital Group, Inc (Class A)		107
	73,441	*,e	Ladenburg Thalmann Financial Services, Inc		97
	87,189		Lazard Ltd (Class A)		2,549
	107,590		Legg Mason, Inc		2,655
	148,276		Leucadia National Corp		3,373
	38,545		LPL Financial Holdings, Inc		1,100
	17,209	e	Main Street Capital Corp		508
	10,552		Manning & Napier, Inc		129
	27,836		MarketAxess Holdings, Inc		880
	6,533		Marlin Business Services Corp		139
	64,585		MCG Capital Corp		298
	9,981		Medallion Financial Corp		118
	12,771		Medley Capital Corp		180
	7,162		MicroFinancial, Inc		66
	150,373		Moody’s Corp		6,642
	1,176,627		Morgan Stanley		19,697
	91,923	*	MSCI, Inc (Class A)		3,290
	17,411		MVC Capital, Inc		223
	88,875		Nasdaq Stock Market, Inc		2,070
	20,204		Nelnet, Inc (Class A)		480
	23,100	*,e	Netspend Holdings, Inc		227
	5,367	e	New Mountain Finance Corp		80
	21,889	*	NewStar Financial, Inc		262
	12,077		NGP Capital Resources Co		90
	7,402	e	Nicholas Financial, Inc		96
	166,517		Northern Trust Corp		7,729
	194,468		NYSE Euronext		4,794
	7,363		Oppenheimer Holdings, Inc		117
	43,579	e	PennantPark Investment Corp		462
	41,814	*,e	PHH Corp		851
	17,372	*	Pico Holdings, Inc		396
	13,978	*	Piper Jaffray Cos		356
	113,446	e	Prospect Capital Corp		1,307
	9,591		Pzena Investment Management, Inc (Class A)		50
	86,796		Raymond James Financial, Inc		3,181
	4,005	*,e	Regional Management Corp		69
	9,098		Resource America, Inc (Class A)		62
	21,125	*	Safeguard Scientifics, Inc		331
	110,255		SEI Investments Co		2,365
	372,531		SLM Corp		5,856
	28,070		Solar Capital Ltd		643
	6,100		Solar Senior Capital Ltd		109
	100,000		SPDR Trust Series 1		14,393
	373,091		State Street Corp		15,655
	40,347	*	Stifel Financial Corp		1,356
	37,258	*	SWS Group, Inc		228
	198,760		T Rowe Price Group, Inc		12,582
	3,999		TCP Capital Corp		64

265

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

SHARES			COMPANY	VALUE (000)
	177,302		TD Ameritrade Holding Corp	$	2,725
	6,653		THL Credit, Inc		93
	29,067		TICC Capital Corp		302
	20,596	e	Triangle Capital Corp		528
	4,394	*	Virtus Investment Partners, Inc		378
	67,558		Waddell & Reed Financial, Inc (Class A)		2,214
	21,153		Walter Investment Management Corp		783
	3,869		Westwood Holdings Group, Inc		151
	44,981	*	WisdomTree Investments, Inc		301
	9,005	*,e	World Acceptance Corp		607
			TOTAL DIVERSIFIED FINANCIALS		659,067
ENERGY - 10.2%
	70,225	*,e	Abraxas Petroleum Corp		162
	1,730		Adams Resources & Energy, Inc		53
	9,171		Alon USA Energy, Inc		126
	172,068	*	Alpha Natural Resources, Inc		1,130
	13,406	*,e	Amyris Biotechnologies, Inc		46
	381,450		Anadarko Petroleum Corp		26,671
	298,484		Apache Corp		25,810
	6,580	e	APCO Argentina, Inc		106
	21,957	*,e	Approach Resources, Inc		662
	157,891	e	Arch Coal, Inc		999
	44,174	*	Atwood Oceanics, Inc		2,008
	334,552		Baker Hughes, Inc		15,132
	23,122	*,e	Basic Energy Services, Inc		259
	39,652		Berry Petroleum Co (Class A)		1,611
	35,237	*	Bill Barrett Corp		873
	6,457		Bolt Technology Corp		93
	7,300	*	Bonanza Creek Energy, Inc		172
	90,573	*,e	BPZ Energy, Inc		259
	27,721		Bristow Group, Inc		1,401
	31,882	*,e	C&J Energy Services, Inc		634
	160,214		Cabot Oil & Gas Corp		7,194
	79,978	*,e	Cal Dive International, Inc		122
	27,753	*	Callon Petroleum Co		171
	186,999	*	Cameron International Corp		10,485
	14,570	e	CARBO Ceramics, Inc		917
	29,745	*,e	Carrizo Oil & Gas, Inc		744
	163,741	*	Cheniere Energy, Inc		2,546
	505,890	e	Chesapeake Energy Corp		9,546
	1,505,379		Chevron Corp		175,468
	64,690		Cimarex Energy Co		3,788
	4,602	*,e	Clayton Williams Energy, Inc		239
	50,466	*,e	Clean Energy Fuels Corp		665
	46,507	*	Cloud Peak Energy, Inc		842
	140,665	*	Cobalt International Energy, Inc		3,133
	36,545	*	Comstock Resources, Inc		672
	79,401	*	Concho Resources, Inc		7,523
	965,563		ConocoPhillips		55,212
	173,265		Consol Energy, Inc		5,207
	9,289	*	Contango Oil & Gas Co		456

266

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

SHARES			COMPANY	VALUE (000)
	33,208	*	Continental Resources, Inc	$	2,554
	5,548	*	CREDO Petroleum Corp		80
	15,591	*	Crimson Exploration, Inc		67
	30,807		Crosstex Energy, Inc		432
	67,340	*	CVR Energy, Inc (Contingent value right)		455
	4,479	*	Dawson Geophysical Co		113
	13,030		Delek US Holdings, Inc		332
	300,252	*	Denbury Resources, Inc		4,852
	309,059	*	Devon Energy Corp		18,698
	52,496	e	Diamond Offshore Drilling, Inc		3,455
	57,836	*	Dresser-Rand Group, Inc		3,187
	30,642	*	Dril-Quip, Inc		2,203
	34,077	*,e	Emerald Oil, Inc		28
	39,982	*,e	Endeavour International Corp		387
	55,035		Energen Corp		2,884
	60,385		Energy XXI Bermuda Ltd		2,110
	205,883		EOG Resources, Inc		23,069
	21,960	*	EPL Oil & Gas, Inc		446
	100,514		Equitable Resources, Inc		5,930
	11,704	*	Evolution Petroleum Corp		95
	101,047	e	EXCO Resources, Inc		809
	55,293	*	Exterran Holdings, Inc		1,121
	3,568,446		Exxon Mobil Corp		326,335
	182,708	*	FMC Technologies, Inc		8,459
	11,631	*	Forbes Energy Services Ltd		41
	84,539	*	Forest Oil Corp		714
	16,394	*	Forum Energy Technologies, Inc		399
	39,564	e	Frontline Ltd		152
	36,931	*	FX Energy, Inc		276
	17,507	*	GasLog Ltd		203
	54,404	*	Gastar Exploration Ltd		90
	4,918	*	Geospace Technologies Corp		602
	15,467	*,e	Gevo, Inc		33
	14,135	*	Global Geophysical Services, Inc		78
	31,274	e	Golar LNG Ltd		1,207
	20,317	*,e	Goodrich Petroleum Corp		257
	20,962	*,e	Green Plains Renewable Energy, Inc		123
	11,124		Gulf Island Fabrication, Inc		310
	20,444	*	Gulfmark Offshore, Inc		675
	42,673	*	Gulfport Energy Corp		1,334
	95,913	*	Halcon Resources Corp		703
	704,604		Halliburton Co		23,738
	29,621	*,e	Harvest Natural Resources, Inc		264
	101,502	*,e	Heckmann Corp		426
	81,706	*	Helix Energy Solutions Group, Inc		1,493
	72,674		Helmerich & Payne, Inc		3,460
	133,318	*	Hercules Offshore, Inc		651
	229,736		Hess Corp		12,341
	158,226		Holly Corp		6,530
	27,922	*	Hornbeck Offshore Services, Inc		1,023
	100,154	*	ION Geophysical Corp		695
	823	*,e	Isramco, Inc		95

267

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

SHARES			COMPANY	VALUE (000)
	115,752	*	Key Energy Services, Inc	$	810
	378,078		Kinder Morgan, Inc		13,429
	20,784	*,e	KiOR, Inc (Class A)		193
	18,775	e	Knightsbridge Tankers Ltd		123
	210,247	*	Kodiak Oil & Gas Corp		1,968
	53,500	*	Kosmos Energy LLC		609
	15,300	*	Laredo Petroleum Holdings, Inc		336
	25,668		Lufkin Industries, Inc		1,381
	119,084	*,e	Magnum Hunter Resources Corp		529
	542,377		Marathon Oil Corp		16,038
	260,157		Marathon Petroleum Corp		14,202
	10,300	*	Matador Resources Co		107
	23,922	*	Matrix Service Co		253
	176,324	*	McDermott International, Inc		2,155
	78,067	*,e	McMoRan Exploration Co		917
	18,666	*	Midstates Petroleum Co, Inc		161
	31,904	*,e	Miller Petroleum, Inc		160
	7,684	*	Mitcham Industries, Inc		122
	147,081		Murphy Oil Corp		7,897
	217,056	*	Nabors Industries Ltd		3,045
	325,105		National Oilwell Varco, Inc		26,044
	9,713	*	Natural Gas Services Group, Inc		145
	101,438	*	Newfield Exploration Co		3,177
	69,901	*	Newpark Resources, Inc		518
	136,127		Noble Energy, Inc		12,620
	37,402	e	Nordic American Tanker Shipping		377
	48,403	*	Northern Oil And Gas, Inc		822
	60,964	*	Oasis Petroleum, Inc		1,797
	618,828		Occidental Petroleum Corp		53,256
	82,172		Oceaneering International, Inc		4,540
	41,949	*	Oil States International, Inc		3,333
	25,757	e	Overseas Shipholding Group, Inc		170
	5,367		Panhandle Oil and Gas, Inc (Class A)		165
	96,030	*	Parker Drilling Co		406
	119,282	e	Patterson-UTI Energy, Inc		1,889
	22,888	*	PDC Energy, Inc		724
	207,042		Peabody Energy Corp		4,615
	51,215		Penn Virginia Corp		318
	43,261	*,e	Petroquest Energy, Inc		290
	9,723	*	PHI, Inc		306
	478,723		Phillips 66		22,198
	42,944	*	Pioneer Energy Services Corp		335
	94,060		Pioneer Natural Resources Co		9,820
	98,805	*	Plains Exploration & Production Co		3,702
	136,144		Questar Market Resources, Inc		4,310
	92,768	*,e	Quicksilver Resources, Inc		379
	123,665		Range Resources Corp		8,640
	211,004	*	Rentech, Inc		519
	35,433	*,e	Resolute Energy Corp		314
	36,039	*	Rex Energy Corp		481
	6,400	*	Rex Stores Corp		115
	9,601	*	RigNet, Inc		178

268

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

SHARES			COMPANY	VALUE (000)
	40,850	*	Rosetta Resources, Inc	$	1,957
	96,528	*	Rowan Companies plc		3,260
	49,925	e	RPC, Inc		594
	7,400	*,e	Sanchez Energy Corp		151
	373,618	*,e	SandRidge Energy, Inc		2,604
	13,465	*,e	Saratoga Resources, Inc		74
	1,017,415		Schlumberger Ltd		73,591
	29,347	*	Scorpio Tankers, Inc		176
	16,143		SEACOR Holdings, Inc		1,346
	31,863	*	SemGroup Corp		1,174
	34,031	e	Ship Finance International Ltd		535
	24,842	*,e	Solazyme, Inc		285
	266,693	*	Southwestern Energy Co		9,276
	498,329		Spectra Energy Corp		14,631
	49,022		St. Mary Land & Exploration Co		2,653
	36,323	*	Stone Energy Corp		912
	81,065	e	Sunoco, Inc		3,796
	120,353	*	Superior Energy Services		2,470
	32,148	*	Swift Energy Co		671
	28,111	*	Synergy Resources Corp		117
	23,492		Targa Resources Investments, Inc		1,183
	27,666		Teekay Corp		863
	48,134	e	Teekay Tankers Ltd (Class A)		180
	23,351	*	Tesco Corp		249
	108,582		Tesoro Corp		4,550
	61,337	*	Tetra Technologies, Inc		371
	10,963	*	TGC Industries, Inc		79
	38,204		Tidewater, Inc		1,854
	46,549	*,e	Triangle Petroleum Corp		333
	117,937	*,e	Ultra Petroleum Corp		2,592
	10,127	*	Union Drilling, Inc		66
	36,980	*	Unit Corp		1,535
	49,078	*,e	Uranerz Energy Corp		80
	76,523	*,e	Uranium Energy Corp		200
	48,465	*	Vaalco Energy, Inc		414
	421,928		Valero Energy Corp		13,367
	169,150	*,e	Vantage Drilling Co		311
	22,450	*	Venoco, Inc		267
	26,733		W&T Offshore, Inc		502
	67,894	*	Warren Resources, Inc		206
	41,735	e	Western Refining, Inc		1,093
	7,723	*,e	Westmoreland Coal Co		77
	89,390	*	Whiting Petroleum Corp		4,235
	29,621	*	Willbros Group, Inc		159
	475,213		Williams Cos, Inc		16,618
	54,207		World Fuel Services Corp		1,930
	151,612	*	WPX Energy, Inc		2,515
	19,733	*,e	ZaZa Energy Corp		59
			TOTAL ENERGY		1,236,250

269

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

SHARES			COMPANY	VALUE (000)
FOOD & STAPLES RETAILING - 2.1%
	14,244		Andersons, Inc	$	536
	837	e	Arden Group, Inc (Class A)		81
	29,235		Casey’s General Stores, Inc		1,670
	7,700	*	Chefs’ Warehouse Holdings, Inc		126
	330,798		Costco Wholesale Corp		33,121
	978,474		CVS Corp		47,378
	21,250	*	Fresh Market, Inc		1,275
	33,356		Harris Teeter Supermarkets, Inc		1,296
	8,163		Ingles Markets, Inc (Class A)		133
	402,777		Kroger Co		9,481
	10,977		Nash Finch Co		224
	5,400	*	Natural Grocers by Vitamin C		121
	16,292	*	Pantry, Inc		237
	13,557		Pricesmart, Inc		1,027
	505,498	*	Rite Aid Corp		591
	14,600	e	Roundy’s, Inc		88
	183,872	e	Safeway, Inc		2,959
	18,527		Spartan Stores, Inc		284
	165,275	e	Supervalu, Inc		398
	5,570	*	Susser Holdings Corp		201
	444,125		Sysco Corp		13,888
	36,743	*	United Natural Foods, Inc		2,148
	6,413		Village Super Market (Class A)		236
	662,169		Walgreen Co		24,129
	1,289,521		Wal-Mart Stores, Inc		95,167
	8,834		Weis Markets, Inc		374
	140,395		Whole Foods Market, Inc		13,674
			TOTAL FOOD & STAPLES RETAILING		250,843
FOOD, BEVERAGE & TOBACCO - 5.3%
	2,319		Alico, Inc		72
	68,179	*	Alliance One International, Inc		220
	1,553,811		Altria Group, Inc		51,882
	3,728	*	Annie’s, Inc		167
	502,983		Archer Daniels Midland Co		13,672
	37,577		B&G Foods, Inc (Class A)		1,139
	117,473		Beam, Inc		6,759
	5,917	*,e	Boston Beer Co, Inc (Class A)		663
	114,427		Brown-Forman Corp (Class B)		7,466
	111,486		Bunge Ltd		7,475
	9,305	e	Calavo Growers, Inc		233
	10,929		Cal-Maine Foods, Inc		491
	133,322	e	Campbell Soup Co		4,642
	53,541	*	Central European Distribution Corp		153
	31,603	*	Chiquita Brands International, Inc		241
	4,202		Coca-Cola Bottling Co Consolidated		286
	2,964,030		Coca-Cola Co		112,425
	228,905		Coca-Cola Enterprises, Inc		7,158
	312,641		ConAgra Foods, Inc		8,626
	112,764	*	Constellation Brands, Inc (Class A)		3,648
	7,653	*	Craft Brewers Alliance, Inc		60
	88,594	*	Darling International, Inc		1,620
	140,023	*	Dean Foods Co		2,289

270

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

SHARES			COMPANY	VALUE (000)
	16,103	e	Diamond Foods, Inc	$	303
	27,600	*,e	Dole Food Co, Inc		387
	161,709		Dr Pepper Snapple Group, Inc		7,201
	5,320	*	Farmer Bros Co		51
	85,492		Flowers Foods, Inc		1,725
	27,620		Fresh Del Monte Produce, Inc		707
	495,147		General Mills, Inc		19,733
	105,274	*,e	Green Mountain Coffee Roasters, Inc		2,500
	2,482		Griffin Land & Nurseries, Inc (Class A)		84
	244,248		H.J. Heinz Co		13,667
	27,245	*	Hain Celestial Group, Inc		1,716
	114,534		Hershey Co		8,119
	89,547		Hillshire Brands Co		2,398
	102,534		Hormel Foods Corp		2,998
	57,268		Ingredion, Inc		3,159
	10,713	*	Inventure Foods, Inc		61
	11,326		J&J Snack Foods Corp		649
	85,533		J.M. Smucker Co		7,384
	5,780	*	John B. Sanfilippo & Son, Inc		75
	184,600		Kellogg Co		9,536
	1,352,955		Kraft Foods, Inc (Class A)		55,946
	14,250		Lancaster Colony Corp		1,044
	33,835		Lance, Inc		846
	3,603	e	Lifeway Foods, Inc		34
	6,464	e	Limoneira Co		119
	99,656		Lorillard, Inc		11,605
	101,273		McCormick & Co, Inc		6,283
	155,998		Mead Johnson Nutrition Co		11,432
	97,904		Molson Coors Brewing Co (Class B)		4,411
	108,688	*	Monster Beverage Corp		5,887
	5,604		National Beverage Corp		85
	15,084	*	Omega Protein Corp		103
	1,193,427		PepsiCo, Inc		84,458
	1,304,593		Philip Morris International, Inc		117,334
	45,390	*,e	Pilgrim’s Pride Corp		232
	21,173	*	Post Holdings, Inc		636
	42,347	*	Ralcorp Holdings, Inc		3,091
	249,072		Reynolds American, Inc		10,795
	17,484	e	Sanderson Farms, Inc		776
	7,792	*	Seneca Foods Corp		233
	53,670	*	Smart Balance, Inc		648
	122,861	*	Smithfield Foods, Inc		2,414
	110,286	*,e	Star Scientific, Inc		382
	14,223	*,e	Synutra International, Inc		66
	18,653	e	Tootsie Roll Industries, Inc		503
	26,938	*	TreeHouse Foods, Inc		1,414
	222,098		Tyson Foods, Inc (Class A)		3,558
	18,707	e	Universal Corp		953
	36,864	e	Vector Group Ltd		612
	9,381	*	Westway Group, Inc		58
			TOTAL FOOD, BEVERAGE & TOBACCO		639,798

271

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

SHARES			COMPANY	VALUE (000)
HEALTH CARE EQUIPMENT & SERVICES - 4.2%
	15,924	*	Abaxis, Inc	$	572
	27,756	*,e	Abiomed, Inc		583
	17,443	*	Acadia Healthcare Co, Inc		416
	43,084	*,e	Accretive Health, Inc		481
	52,299	*	Accuray, Inc		370
	265,283		Aetna, Inc		10,505
	9,811	*	Air Methods Corp		1,171
	54,705	*	Align Technology, Inc		2,022
	130,978	*	Allscripts Healthcare Solutions, Inc		1,628
	7,268	*	Almost Family, Inc		155
	39,818	*	Alphatec Holdings, Inc		66
	21,596	*	Amedisys, Inc		298
	36,997	*	Amerigroup Corp		3,383
	193,161		AmerisourceBergen Corp		7,477
	30,580	*,e	AMN Healthcare Services, Inc		308
	25,648	*	Amsurg Corp		728
	10,953		Analogic Corp		856
	18,523	*	Angiodynamics, Inc		226
	8,891	*	Anika Therapeutics, Inc		134
	65,226	*,e	Antares Pharma, Inc		284
	20,843	*	Arthrocare Corp		675
	17,166		Assisted Living Concepts, Inc (A Shares)		131
	27,327	*,e	athenahealth, Inc		2,508
	10,854	*	AtriCure, Inc		81
	1,039		Atrion Corp		230
	64,466		Bard (C.R.), Inc		6,746
	420,369		Baxter International, Inc		25,331
	154,798		Becton Dickinson & Co		12,161
	18,346	*,e	Bio-Reference Labs, Inc		524
	31,488	*	BioScrip, Inc		287
	1,091,151	*	Boston Scientific Corp		6,263
	74,076	*	Brookdale Senior Living, Inc		1,720
	18,628		Cantel Medical Corp		504
	21,051	*	Capital Senior Living Corp		305
	264,307		Cardinal Health, Inc		10,300
	9,837	*,e	Cardiovascular Systems, Inc		114
	169,678	*	CareFusion Corp		4,817
	78,194	*	Catamaran Corp		7,661
	39,667	*	Centene Corp		1,484
	110,620	*	Cerner Corp		8,563
	28,816	*,e	Cerus Corp		98
	16,152		Chemed Corp		1,119
	8,056	*	Chindex International, Inc		83
	220,510		Cigna Corp		10,401
	69,450	*	Community Health Systems, Inc		2,024
	9,537		Computer Programs & Systems, Inc		530
	25,681	*	Conceptus, Inc		522
	22,053		Conmed Corp		629
	36,172		Cooper Cos, Inc		3,417
	6,016	*	Corvel Corp		269
	102,330		Coventry Health Care, Inc		4,266

272

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

SHARES			COMPANY	VALUE (000)
	368,279		Covidien plc	$	21,883
	22,090	*	Cross Country Healthcare, Inc		104
	27,223		CryoLife, Inc		183
	22,734	*	Cyberonics, Inc		1,192
	5,493	*	Cynosure, Inc (Class A)		145
	71,147	*	DaVita, Inc		7,372
	107,747		Dentsply International, Inc		4,109
	7,513	*,e	Derma Sciences, Inc		78
	50,790	*	DexCom, Inc		763
	87,257	*	Edwards Lifesciences Corp		9,369
	23,206	*	Emeritus Corp		486
	42,117	*	Endologix, Inc		582
	13,113		Ensign Group, Inc		401
	20,936	*,e	EnteroMedics, Inc		76
	13,740	*,e	ePocrates, Inc		160
	4,898	*	Exactech, Inc		87
	20,845	*	EXamWorks, Inc		311
	614,961	*	Express Scripts Holding Co		38,540
	24,001	*	Five Star Quality Care, Inc		123
	22,160	*	Gentiva Health Services, Inc		251
	7,300	*	Globus Medical, Inc		132
	19,254	*	Greatbatch, Inc		468
	6,213	*	Greenway Medical Technologies		106
	19,281	*	Haemonetics Corp		1,546
	25,502	*	Hanger Orthopedic Group, Inc		728
	32,412	*,e	Hansen Medical, Inc		63
	125,573		HCA Holdings, Inc		4,175
	197,006	*	Health Management Associates, Inc (Class A)		1,653
	63,559	*	Health Net, Inc		1,431
	71,500	*	Healthsouth Corp		1,720
	14,864	*	HealthStream, Inc		423
	28,116	*	Healthways, Inc		329
	10,804	*,e	HeartWare International, Inc		1,021
	68,617	*	Henry Schein, Inc		5,439
	49,054		Hill-Rom Holdings, Inc		1,426
	65,676	*	HMS Holdings Corp		2,196
	200,085	*	Hologic, Inc		4,050
	124,589		Humana, Inc		8,740
	9,095	*	ICU Medical, Inc		550
	42,003	*	Idexx Laboratories, Inc		4,173
	36,536	*	Insulet Corp		788
	16,089	*	Integra LifeSciences Holdings Corp		661
	30,088	*	Intuitive Surgical, Inc		14,913
	23,110		Invacare Corp		327
	64,014	*	Inverness Medical Innovations, Inc		1,248
	11,925	*	IPC The Hospitalist Co, Inc		545
	12,955	*	IRIS International, Inc		253
	38,766	*	Kindred Healthcare, Inc		441
	73,860	*	Laboratory Corp of America Holdings		6,830
	8,629		Landauer, Inc		515
	11,927	*	LHC Group, Inc		220
	37,223	*	LifePoint Hospitals, Inc		1,592

273

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

SHARES			COMPANY	VALUE (000)
	20,796	*	Magellan Health Services, Inc	$	1,073
	27,393	*,e	MAKO Surgical Corp		477
	38,810		Masimo Corp		938
	179,799		McKesson Corp		15,468
	44,883	*	MedAssets, Inc		799
	17,100	*	Medidata Solutions, Inc		710
	792,018		Medtronic, Inc		34,152
	38,200	*,e	Merge Healthcare, Inc		146
	31,965	e	Meridian Bioscience, Inc		613
	29,037	*	Merit Medical Systems, Inc		434
	31,344	*	Metropolitan Health Networks, Inc		293
	21,513	*	Molina Healthcare, Inc		541
	9,533	*	MWI Veterinary Supply, Inc		1,017
	8,081	e	National Healthcare Corp		386
	1,866		National Research Corp		94
	19,956	*	Natus Medical, Inc		261
	18,486	*	Neogen Corp		789
	66,756	*,e	Neoprobe Corp		184
	33,067	*	NuVasive, Inc		758
	37,870	*	NxStage Medical, Inc		500
	86,850		Omnicare, Inc		2,950
	24,067	*	Omnicell, Inc		335
	36,642	*	OraSure Technologies, Inc		407
	14,876	*	Orthofix International NV		666
	48,567		Owens & Minor, Inc		1,451
	12,302	*	Palomar Medical Technologies, Inc		116
	71,157		Patterson Cos, Inc		2,436
	7,109	*	PDI, Inc		57
	37,651	*	Pediatrix Medical Group, Inc		2,803
	23,814	*	PharMerica Corp		301
	9,836	*,e	PhotoMedex, Inc		138
	8,598	*	Providence Service Corp		112
	41,924	*	PSS World Medical, Inc		955
	29,676		Quality Systems, Inc		550
	118,617		Quest Diagnostics, Inc		7,524
	21,781	*,e	Quidel Corp		412
	108,952	e	Resmed, Inc		4,409
	7,696	*	Rochester Medical Corp		91
	12,187	*,e	Rockwell Medical Technologies, Inc		100
	38,631	*	RTI Biologics, Inc		161
	31,477	*	Select Medical Holdings Corp		353
	42,129	*	Sirona Dental Systems, Inc		2,400
	15,881	*	Skilled Healthcare Group, Inc (Class A)		102
	44,003	*	Solta Medical, Inc		138
	26,592	*	Spectranetics Corp		392
	239,615		St. Jude Medical, Inc		10,095
	26,141	*	Staar Surgical Co		198
	44,285		STERIS Corp		1,571
	236,412		Stryker Corp		13,159
	19,029	*	Sun Healthcare Group, Inc		161
	47,216	*,e	Sunrise Senior Living, Inc		674
	13,627	*	SurModics, Inc		276

274

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

SHARES			COMPANY	VALUE (000)
	32,497	*	Symmetry Medical, Inc	$	321
	20,027	*	Team Health Holdings, Inc		543
	30,710		Teleflex, Inc		2,114
	316,767	*	Tenet Healthcare Corp		1,986
	44,951	*	Thoratec Corp		1,555
	11,480	*	Tornier BV		218
	14,800	*	Triple-S Management Corp (Class B)		309
	57,226	*,e	Unilife Corp		179
	792,201		UnitedHealth Group, Inc		43,896
	28,773		Universal American Corp		266
	69,358		Universal Health Services, Inc (Class B)		3,172
	8,422		US Physical Therapy, Inc		233
	2,349		Utah Medical Products, Inc		80
	23,000	*	Vanguard Health Systems, Inc		285
	87,752	*	Varian Medical Systems, Inc		5,293
	12,709	*	Vascular Solutions, Inc		188
	66,310	*	VCA Antech, Inc		1,308
	5,028	*,e	Vocera Communications, Inc		155
	39,957	*	Volcano Corp		1,142
	32,075	*	WellCare Health Plans, Inc		1,814
	252,693		WellPoint, Inc		14,659
	26,348		West Pharmaceutical Services, Inc		1,398
	28,863	*,e	Wright Medical Group, Inc		638
	4,290		Young Innovations, Inc		168
	12,908	*,e	Zeltiq Aesthetics, Inc		73
	134,522		Zimmer Holdings, Inc		9,096
			TOTAL HEALTH CARE EQUIPMENT & SERVICES		506,558
HOUSEHOLD & PERSONAL PRODUCTS - 2.1%
	327,248		Avon Products, Inc		5,220
	46,305	*	Central Garden and Pet Co (Class A)		559
	106,151		Church & Dwight Co, Inc		5,731
	99,351		Clorox Co		7,158
	364,272		Colgate-Palmolive Co		39,057
	17,747	*	Elizabeth Arden, Inc		838
	49,897		Energizer Holdings, Inc		3,723
	174,666		Estee Lauder Cos (Class A)		10,753
	11,623	e	Female Health Co		83
	31,617	*	Harbinger Group, Inc		267
	89,168		Herbalife Ltd		4,227
	12,258		Inter Parfums, Inc		224
	299,438		Kimberly-Clark Corp		25,686
	9,661	*	Medifast, Inc		253
	5,868	e	Nature’s Sunshine Products, Inc		96
	41,386	e	Nu Skin Enterprises, Inc (Class A)		1,607
	8,067	*	Nutraceutical International Corp		127
	3,981		Oil-Dri Corp of America		92
	4,547		Orchids Paper Products Co		82
	38,233	*	Prestige Brands Holdings, Inc		648
	2,090,805		Procter & Gamble Co		145,019
	9,587	*	Revlon, Inc (Class A)		148
	9,325	*	Schiff Nutrition International, Inc		226

275

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

SHARES			COMPANY	VALUE (000)
	17,518	*	Spectrum Brands, Inc	$	701
	6,878	*,e	USANA Health Sciences, Inc		320
	11,364		WD-40 Co		598
			TOTAL HOUSEHOLD & PERSONAL PRODUCTS		253,443
INSURANCE - 3.7%
	259,007		ACE Ltd		19,581
	355,867		Aflac, Inc		17,039
	12,914	*	Alleghany Corp		4,455
	27,778		Allied World Assurance Co Holdings Ltd		2,146
	374,420		Allstate Corp		14,831
	46,461		American Equity Investment Life Holding Co		540
	65,324		American Financial Group, Inc		2,476
	491,991	*	American International Group, Inc		16,132
	4,964		American National Insurance Co		357
	7,468	*	American Safety Insurance Holdings Ltd		140
	13,065	*	Amerisafe, Inc		355
	19,587	e	Amtrust Financial Services, Inc		502
	251,640		Aon plc		13,158
	103,465	*	Arch Capital Group Ltd		4,312
	21,131		Argo Group International Holdings Ltd		684
	89,396		Arthur J. Gallagher & Co		3,202
	54,260		Aspen Insurance Holdings Ltd		1,654
	65,382		Assurant, Inc		2,439
	122,889		Assured Guaranty Ltd		1,674
	83,728		Axis Capital Holdings Ltd		2,924
	6,904		Baldwin & Lyons, Inc (Class B)		165
	1,359,133	*	Berkshire Hathaway, Inc (Class B)		119,875
	89,066		Brown & Brown, Inc		2,322
	206,103		Chubb Corp		15,722
	111,579		Cincinnati Financial Corp		4,228
	32,879	*,e	Citizens, Inc (Class A)		345
	19,762		CNA Financial Corp		530
	162,070		Conseco, Inc		1,564
	14,025		Crawford & Co (Class B)		70
	9,364		Donegal Group, Inc (Class A)		131
	4,850		Eastern Insurance Holdings, Inc		81
	17,698	*	eHealth, Inc		332
	4,503		EMC Insurance Group, Inc		95
	24,104		Employers Holdings, Inc		442
	31,116		Endurance Specialty Holdings Ltd		1,198
	6,491	*	Enstar Group Ltd		647
	21,144		Erie Indemnity Co (Class A)		1,359
	39,815		Everest Re Group Ltd		4,259
	9,829		FBL Financial Group, Inc (Class A)		326
	171,742		Fidelity National Title Group, Inc (Class A)		3,674
	80,939		First American Financial Corp		1,754
	40,236		Flagstone Reinsurance Holdings Ltd		346
	377,648	*	Genworth Financial, Inc (Class A)		1,975
	20,683	*	Greenlight Capital Re Ltd (Class A)		512
	7,438	*	Hallmark Financial Services		61
	34,492		Hanover Insurance Group, Inc		1,285

276

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

SHARES			COMPANY	VALUE (000)
	338,501		Hartford Financial Services Group, Inc	$	6,580
	77,301		HCC Insurance Holdings, Inc		2,620
	30,002	*	Hilltop Holdings, Inc		381
	5,748		Homeowners Choice, Inc		135
	29,235		Horace Mann Educators Corp		529
	5,951	e	Independence Holding Co		60
	10,619		Infinity Property & Casualty Corp		641
	862		Investors Title Co		56
	2,078	e	Kansas City Life Insurance Co		80
	39,343		Kemper Corp		1,208
	218,155		Lincoln National Corp		5,277
	237,462		Loews Corp		9,798
	34,934		Maiden Holdings Ltd		311
	7,378	*	Markel Corp		3,383
	417,952		Marsh & McLennan Cos, Inc		14,181
	65,416		Max Capital Group Ltd		1,566
	112,430	*,e	MBIA, Inc		1,139
	42,189		Meadowbrook Insurance Group, Inc		324
	20,342		Mercury General Corp		786
	648,672		Metlife, Inc		22,352
	38,114		Montpelier Re Holdings Ltd		843
	35,464	*	National Financial Partners Corp		599
	9,917		National Interstate Corp		256
	1,551		National Western Life Insurance Co (Class A)		222
	8,338	*	Navigators Group, Inc		410
	195,723		Old Republic International Corp		1,820
	20,220		OneBeacon Insurance Group Ltd (Class A)		272
	49,344		PartnerRe Ltd		3,665
	4,932	*	Phoenix Cos, Inc		151
	26,237		Platinum Underwriters Holdings Ltd		1,072
	13,808		Presidential Life Corp		192
	35,780		Primerica, Inc		1,025
	229,355		Principal Financial Group		6,179
	23,371		ProAssurance Corp		2,114
	466,529		Progressive Corp		9,676
	64,541		Protective Life Corp		1,692
	356,642		Prudential Financial, Inc		19,441
	56,415		Reinsurance Group of America, Inc (Class A)		3,265
	39,604		RenaissanceRe Holdings Ltd		3,051
	16,141		RLI Corp		1,076
	11,015		Safety Insurance Group, Inc		505
	14,868		SeaBright Insurance Holdings, Inc		164
	40,400		Selective Insurance Group, Inc		767
	35,995		Stancorp Financial Group, Inc		1,124
	9,480		State Auto Financial Corp		155
	12,744		Stewart Information Services Corp		257
	59,563		Symetra Financial Corp		733
	75,122		Torchmark Corp		3,858
	28,710		Tower Group, Inc		557
	297,089		Travelers Cos, Inc		20,278
	12,914	*	United America Indemnity Ltd		283
	17,338		United Fire & Casualty Co		436

277

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

SHARES			COMPANY	VALUE (000)
	10,064		Universal Insurance Holdings, Inc	$	39
	218,285		UnumProvident Corp		4,195
	72,700		Validus Holdings Ltd		2,465
	84,224		W.R. Berkley Corp		3,158
	4,478		White Mountains Insurance Group Ltd		2,299
	236,648		XL Capital Ltd		5,687
			TOTAL INSURANCE		447,287
MATERIALS - 3.9%
	24,943		A. Schulman, Inc		594
	6,725	*,e	ADA-ES, Inc		159
	5,113	*,e	AEP Industries, Inc		310
	161,900		Air Products & Chemicals, Inc		13,389
	52,484		Airgas, Inc		4,319
	84,458	e	AK Steel Holding Corp		405
	68,023		Albemarle Corp		3,583
	811,261		Alcoa, Inc		7,180
	81,466		Allegheny Technologies, Inc		2,599
	68,161	*	Allied Nevada Gold Corp		2,662
	18,051		AMCOL International Corp		612
	20,501		American Vanguard Corp		713
	50,149		Aptargroup, Inc		2,593
	15,246	*,e	Arabian American Development Co		149
	60,168		Ashland, Inc		4,308
	21,090		Balchem Corp		775
	119,517		Ball Corp		5,056
	78,588		Bemis Co, Inc		2,473
	76,383		Boise, Inc		669
	14,781		Brush Engineered Materials, Inc		352
	31,123		Buckeye Technologies, Inc		998
	48,545		Cabot Corp		1,775
	45,612	*	Calgon Carbon Corp		653
	33,678		Carpenter Technology Corp		1,762
	11,808	*,e	Castle (A.M.) & Co		147
	118,461		Celanese Corp (Series A)		4,491
	39,702	*	Century Aluminum Co		284
	50,250		CF Industries Holdings, Inc		11,168
	5,158		Chase Corp		95
	73,547	*	Chemtura		1,266
	19,978	*	Clearwater Paper Corp		825
	108,906		Cleveland-Cliffs, Inc		4,261
	68,043	*	Coeur d’Alene Mines Corp		1,962
	86,134		Commercial Metals Co		1,137
	25,270		Compass Minerals International, Inc		1,885
	113,742	*	Crown Holdings, Inc		4,180
	35,121		Cytec Industries, Inc		2,301
	9,014		Deltic Timber Corp		588
	27,533		Domtar Corp		2,156
	914,958		Dow Chemical Co		26,497
	715,495		Du Pont (E.I.) de Nemours & Co		35,967
	33,735		Eagle Materials, Inc		1,561
	116,569		Eastman Chemical Co		6,646

278

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

SHARES			COMPANY	VALUE (000)
	198,486		Ecolab, Inc	$	12,864
	66,070	*	Ferro Corp		227
	38,825	*,e	Flotek Industries, Inc		492
	104,720		FMC Corp		5,799
	724,811		Freeport-McMoRan Copper & Gold, Inc (Class B)		28,687
	14,460		FutureFuel Corp		175
	51,402	*	General Moly, Inc		163
	25,535		Georgia Gulf Corp		925
	35,119		Glatfelter		625
	47,286		Globe Specialty Metals, Inc		720
	37,237	*	Gold Reserve, Inc		121
	21,606	e	Gold Resource Corp		463
	21,448	*,e	Golden Minerals Co		112
	219,041	*,e	Golden Star Resources Ltd		432
	122,089	*	Graphic Packaging Holding Co		709
	24,459		Greif, Inc (Class A)		1,081
	6,559	*	GSE Holding, Inc		51
	36,749		H.B. Fuller Co		1,127
	6,809		Hawkins, Inc		283
	9,402		Haynes International, Inc		490
	54,162	*	Headwaters, Inc		356
	214,218	e	Hecla Mining Co		1,403
	33,599	*	Horsehead Holding Corp		314
	145,355		Huntsman Corp		2,170
	16,427		Innophos Holdings, Inc		797
	18,027	*	Innospec, Inc		611
	61,486		International Flavors & Fragrances, Inc		3,663
	334,493		International Paper Co		12,150
	40,015	*	Intrepid Potash, Inc		860
	14,023		Kaiser Aluminum Corp		819
	32,261	*	Kapstone Paper and Packaging Corp		722
	4,800		KMG Chemicals, Inc		89
	16,539		Koppers Holdings, Inc		578
	24,388	*	Kraton Polymers LLC		637
	14,288	e	Kronos Worldwide, Inc		213
	14,893	*	Landec Corp		171
	101,464	*	Louisiana-Pacific Corp		1,268
	13,887	*	LSB Industries, Inc		609
	245,581		LyondellBasell Industries AF S.C.A		12,687
	34,945	e	Martin Marietta Materials, Inc		2,896
	150,503	*,e	McEwen Mining, Inc		691
	128,841		MeadWestvaco Corp		3,943
	8,652	*	Metals USA Holdings Corp		116
	60,363	*	Midway Gold Corp		99
	13,589		Minerals Technologies, Inc		964
	59,212	*,e	Molycorp, Inc		681
	406,961		Monsanto Co		37,041
	226,819		Mosaic Co		13,067
	23,791		Myers Industries, Inc		372
	11,726		Neenah Paper, Inc		336
	6,813		NewMarket Corp		1,679
	375,198		Newmont Mining Corp		21,014

279

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

SHARES			COMPANY	VALUE (000)
	25,216		Noranda Aluminium Holding Corp	$	169
	242,523		Nucor Corp		9,278
	63,038		Olin Corp		1,370
	8,985		Olympic Steel, Inc		152
	23,303	*	OM Group, Inc		432
	32,453	*	Omnova Solutions, Inc		246
	126,112	*	Owens-Illinois, Inc		2,366
	74,848		Packaging Corp of America		2,717
	90,889	*,e	Paramount Gold and Silver Corp		242
	71,742		PolyOne Corp		1,189
	116,306		PPG Industries, Inc		13,357
	228,503		Praxair, Inc		23,737
	9,804		Quaker Chemical Corp		458
	56,307		Reliance Steel & Aluminum Co		2,948
	55,110	*,e	Resolute Forest Products		716
	18,123	*,e	Revett Minerals, Inc		65
	54,046		Rock-Tenn Co (Class A)		3,901
	52,353		Rockwood Holdings, Inc		2,440
	44,954		Royal Gold, Inc		4,489
	98,223		RPM International, Inc		2,803
	23,200	*	RTI International Metals, Inc		555
	19,399		Schnitzer Steel Industries, Inc (Class A)		546
	23,952		Schweitzer-Mauduit International, Inc		790
	32,453	e	Scotts Miracle-Gro Co (Class A)		1,411
	143,206		Sealed Air Corp		2,214
	38,347		Sensient Technologies Corp		1,410
	66,324		Sherwin-Williams Co		9,876
	92,473		Sigma-Aldrich Corp		6,655
	37,804		Silgan Holdings, Inc		1,645
	76,188		Sonoco Products Co		2,361
	126,623		Southern Copper Corp (NY)		4,351
	25,932	*	Spartech Corp		139
	165,292		Steel Dynamics, Inc		1,856
	6,453		Stepan Co		620
	94,371	*	Stillwater Mining Co		1,113
	56,972	*	SunCoke Energy, Inc		918
	61,033	*	Tahoe Resources, Inc		1,243
	17,319	*,e	Texas Industries, Inc		704
	10,121	*	Texas Petrochemicals, Inc		413
	65,998	e	Titanium Metals Corp		847
	19,671		Tredegar Corp		349
	4,092	*	UFP Technologies, Inc		72
	1,357	*	United States Lime & Minerals, Inc		65
	110,404	e	United States Steel Corp		2,105
	4,623	*	Universal Stainless & Alloy		172
	41,575	*,e	US Antimony Corp		81
	9,000	*,e	US Silica Holdings Inc		122
	71,121		Valspar Corp		3,990
	82,408	*,e	Vista Gold Corp		299
	98,368		Vulcan Materials Co		4,653
	46,839		Walter Energy, Inc		1,520
	37,679		Wausau Paper Corp		349

280

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

SHARES			COMPANY	VALUE (000)
	15,532	e	Westlake Chemical Corp	$	1,135
	4,506	*	WHX Corp		67
	41,959	*	Worthington Industries, Inc		909
	56,274	*	WR Grace & Co		3,325
	15,316		Zep, Inc		232
	27,713	*,e	Zoltek Cos, Inc		213
			TOTAL MATERIALS		476,467
MEDIA - 3.5%
	42,531	*	AMC Networks, Inc		1,851
	20,466		Arbitron, Inc		776
	71,065		Belo (A.H.) Corp (Class A)		556
	153,456		Cablevision Systems Corp (Class A)		2,432
	13,386	*	Carmike Cinemas, Inc		151
	495,064		CBS Corp (Class B)		17,986
	27,491	*	Central European Media Enterprises Ltd (Class A) Nasdaq		179
	37,166	*	Charter Communications, Inc		2,790
	87,874		Cinemark Holdings, Inc		1,971
	28,047		Clear Channel Outdoor Holdings, Inc (Class A)		168
	2,054,514		Comcast Corp (Class A)		73,490
	13,062	*,e	Crown Media Holdings, Inc (Class A)		22
	36,647	*,e	Cumulus Media, Inc (Class A)		100
	772	*	Daily Journal Corp		72
	20,194	*,e	Digital Generation, Inc		229
	500,088	*	DIRECTV		26,235
	194,728	*	Discovery Communications, Inc (Class A)		11,612
	153,317		DISH Network Corp (Class A)		4,693
	54,653	*,e	DreamWorks Animation SKG, Inc (Class A)		1,051
	18,269	*,e	Entercom Communications Corp (Class A)		125
	38,482		Entravision Communications Corp (Class A)		52
	21,197	*	EW Scripps Co (Class A)		226
	5,404	*	Fisher Communications, Inc		199
	179,105		Gannett Co, Inc		3,179
	8,856	*	Global Sources Ltd		58
	33,505		Harte-Hanks, Inc		232
	339,042		Interpublic Group of Cos, Inc		3,770
	33,375		John Wiley & Sons, Inc (Class A)		1,534
	42,642	*	Journal Communications, Inc (Class A)		222
	58,933	*,e	Lamar Advertising Co (Class A)		2,184
	200,350	*	Liberty Global, Inc (Class A)		12,171
	82,873	*	Liberty Interactive LLC		8,633
	29,608	*	Lin TV Corp (Class A)		130
	66,285	*,e	Lions Gate Entertainment Corp		1,012
	108,249	*	Live Nation, Inc		932
	45,616	*	Madison Square Garden, Inc		1,837
	29,313	e	Martha Stewart Living Omnimedia, Inc (Class A)		90
	45,516	*,e	McClatchy Co (Class A)		102
	214,434		McGraw-Hill Cos, Inc		11,706
	19,518	e	MDC Partners, Inc		241
	26,535	e	Meredith Corp		929
	18,294		Morningstar, Inc		1,146
	40,500		National CineMedia, Inc		663

281

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

SHARES			COMPANY	VALUE (000)
	104,815	*	New York Times Co (Class A)	$	1,023
	1,599,731		News Corp (Class A)		39,241
	7,914	*	Nexstar Broadcasting Group, Inc (Class A)		84
	208,160		Omnicom Group, Inc		10,733
	11,051		Outdoor Channel Holdings, Inc		80
	77,967	*,e	Pandora Media, Inc		854
	7,422	*	ReachLocal, Inc		93
	12,373	*	Reading International, Inc		73
	60,087	e	Regal Entertainment Group (Class A)		845
	7,217	*	Rentrak Corp		122
	2,741	*	Saga Communications, Inc		111
	19,984		Scholastic Corp		635
	64,773		Scripps Networks Interactive (Class A)		3,966
	43,173		Sinclair Broadcast Group, Inc (Class A)		484
	2,904,827	*	Sirius XM Radio, Inc		7,553
	285,406	e	Thomson Corp		8,237
	239,876		Time Warner Cable, Inc		22,803
	735,571		Time Warner, Inc		33,343
	32,675	*,e	Valassis Communications, Inc		807
	403,021		Viacom, Inc (Class B)		21,598
	212,326	e	Virgin Media, Inc		6,251
	1,363,691		Walt Disney Co		71,294
	3,249	e	Washington Post Co (Class B)		1,179
	18,692	e	World Wrestling Entertainment, Inc (Class A)		150
			TOTAL MEDIA		429,296
PHARMACEUTICALS, BIOTECHNOLOGY & LIFE SCIENCES - 7.7%
	1,200,537		Abbott Laboratories		82,309
	38,651	*	Achillion Pharmaceuticals, Inc		402
	29,951	*	Acorda Therapeutics, Inc		767
	6,188	*,e	Acura Pharmaceuticals, Inc		11
	16,553	*,e	Aegerion Pharmaceuticals, Inc		245
	30,064	*	Affymax, Inc		633
	56,476	*,e	Affymetrix, Inc		245
	17,407	*,e	Agenus, Inc		80
	264,050		Agilent Technologies, Inc		10,154
	44,535	*	Akorn, Inc		589
	146,689	*	Alexion Pharmaceuticals, Inc		16,781
	93,543	*	Alkermes plc		1,941
	231,745		Allergan, Inc		21,223
	35,380	*,e	Alnylam Pharmaceuticals, Inc		665
	16,995	*	AMAG Pharmaceuticals, Inc		301
	593,892		Amgen, Inc		50,078
	22,849	*,e	Amicus Therapeutics, Inc		119
	15,482	*,e	Ampio Pharmaceuticals, Inc		60
	11,354	*	Anacor Pharmaceuticals, Inc		75
	165,796	*,e	Arena Pharmaceuticals, Inc		1,379
	128,917	*	Ariad Pharmaceuticals, Inc		3,123
	40,003	*	Arqule, Inc		204
	67,523	*	Array Biopharma, Inc		396
	72,935	*	Astex Pharmaceuticals		224
	36,727	*	Auxilium Pharmaceuticals, Inc		898

282

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

SHARES			COMPANY	VALUE (000)
	119,462	*,e	AVANIR Pharmaceuticals, Inc	$	382
	27,927	*,e	AVEO Pharmaceuticals, Inc		291
	8,246	*,e	BG Medicine, Inc		30
	38,747	*,e	BioCryst Pharmaceuticals, Inc		164
	15,220	*,e	BioDelivery Sciences International, Inc		96
	183,103	*	Biogen Idec, Inc		27,325
	93,223	*	BioMarin Pharmaceuticals, Inc		3,754
	15,217	*	Bio-Rad Laboratories, Inc (Class A)		1,624
	2,885	*	Biospecifics Technologies Corp		56
	16,168	*,e	Biotime, Inc		68
	1,289,765		Bristol-Myers Squibb Co		43,530
	70,932	*	Bruker BioSciences Corp		928
	47,523	*,e	Cadence Pharmaceuticals, Inc		186
	20,927	*	Cambrex Corp		245
	336,146	*	Celgene Corp		25,683
	43,891	*,e	Celldex Therapeutics, Inc		277
	49,716	*	Cepheid, Inc		1,716
	39,385	*	Charles River Laboratories International, Inc		1,560
	4,506	*,e	ChemoCentryx, Inc		52
	10,510	*,e	Clovis Oncology, Inc		215
	19,275	*,e	Codexis, Inc		58
	32,316	*,e	Corcept Therapeutics, Inc		90
	5,072	*	Cornerstone Therapeutics, Inc		26
	10,237	*,e	Coronado Biosciences, Inc		53
	46,088	*	Covance, Inc		2,152
	48,456	*	Cubist Pharmaceuticals, Inc		2,310
	8,942	*,e	Cumberland Pharmaceuticals, Inc		58
	59,363	*,e	Curis, Inc		246
	47,980	*,e	Cytori Therapeutics, Inc		212
	119,216	*,e	Dendreon Corp		576
	40,825	*	Depomed, Inc		241
	34,683	*,e	Discovery Laboratories, Inc		114
	18,782	*	Dusa Pharmaceuticals, Inc		128
	69,074	*	Dyax Corp		180
	140,378	*,e	Dynavax Technologies Corp		668
	782,389		Eli Lilly & Co		37,093
	19,838	*	Emergent Biosolutions, Inc		282
	89,664	*	Endo Pharmaceuticals Holdings, Inc		2,844
	22,769	*	Endocyte, Inc		227
	31,349	*	Enzon Pharmaceuticals, Inc		218
	44,787	*	Exact Sciences Corp		493
	140,174	*,e	Exelixis, Inc		676
	15,551	*	Fluidigm Corp		264
	203,023	*	Forest Laboratories, Inc		7,230
	7,338	*	Furiex Pharmaceuticals Inc		140
	14,823	*	Genomic Health, Inc		514
	88,925	*,e	Geron Corp		151
	580,467	*	Gilead Sciences, Inc		38,503
	6,376	*,e	Golf Trust Of America, Inc		48
	14,714	*,e	GTx, Inc		67
	68,771	*	Halozyme Therapeutics, Inc		520
	16,723	*	Harvard Bioscience, Inc		71

283

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

SHARES			COMPANY	VALUE (000)
	8,540	*	Hi-Tech Pharmacal Co, Inc	$	283
	16,867	*	Horizon Pharma, Inc		59
	126,136	*	Hospira, Inc		4,140
	57,409	*	Idenix Pharmaceuticals, Inc		262
	93,481	*,e	Illumina, Inc		4,506
	30,850	*,e	ImmunoCellular Therapeutics Ltd		87
	65,469	*,e	Immunogen, Inc		956
	54,649	*,e	Immunomedics, Inc		192
	49,816	*	Impax Laboratories, Inc		1,293
	73,354	*,e	Incyte Corp		1,324
	19,737	*,e	Infinity Pharmaceuticals, Inc		465
	49,640	*,e	InterMune, Inc		445
	57,510	*,e	Ironwood Pharmaceuticals, Inc		735
	74,058	*,e	Isis Pharmaceuticals, Inc		1,042
	31,607	*	Jazz Pharmaceuticals plc		1,802
	2,095,523		Johnson & Johnson		144,402
	53,997	*,e	Keryx Biopharmaceuticals, Inc		152
	7,363	*	Lannett Co, Inc		36
	154,334	*,e	Lexicon Pharmaceuticals, Inc		358
	136,670	*	Life Technologies Corp		6,680
	14,627	*	Ligand Pharmaceuticals, Inc (Class B)		251
	31,134	*	Luminex Corp		605
	86,613	*,e	MannKind Corp		249
	16,568	*	MAP Pharmaceuticals, Inc		258
	16,427		Maxygen, Inc		43
	41,466	*	Medicines Co		1,070
	47,245		Medicis Pharmaceutical Corp (Class A)		2,044
	55,068	*	Medivation, Inc		3,104
	2,326,496		Merck & Co, Inc		104,925
	11,316	*,e	Merrimack Pharmaceuticals, Inc		106
	24,261	*	Mettler-Toledo International, Inc		4,142
	34,069	*	Momenta Pharmaceuticals, Inc		496
	310,260	*	Mylan Laboratories, Inc		7,570
	65,398	*	Myriad Genetics, Inc		1,765
	87,448	*,e	Nektar Therapeutics		934
	51,178	*	Neurocrine Biosciences, Inc		408
	9,891	*,e	NewLink Genetics Corp		161
	9,215	*,e	Novacea, Inc		49
	69,550	*,e	Novavax, Inc		150
	62,195	*	NPS Pharmaceuticals, Inc		575
	12,855	*	Obagi Medical Products, Inc		160
	17,474	*,e	Omeros Corp		164
	7,745	*,e	OncoGenex Pharmaceutical, Inc		110
	43,574	*,e	Oncothyreon, Inc		224
	48,332	*	Onyx Pharmaceuticals, Inc		4,084
	90,703	*,e	Opko Health, Inc		379
	38,666	*,e	Optimer Pharmaceuticals, Inc		546
	48,470	*,e	Orexigen Therapeutics, Inc		277
	12,630	*,e	Osiris Therapeutics, Inc		140
	26,111	*	Pacific Biosciences of California, Inc		48
	14,382	*,e	Pacira Pharmaceuticals, Inc		250
	24,948		Pain Therapeutics, Inc		126

284

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

SHARES			COMPANY	VALUE (000)
	28,130	*	Par Pharmaceutical Cos, Inc	$	1,406
	46,620	*	Parexel International Corp		1,434
	106,509	e	PDL BioPharma, Inc		819
	86,372		PerkinElmer, Inc		2,545
	71,363		Perrigo Co		8,290
	5,713,579		Pfizer, Inc		141,982
	42,541	*,e	Pharmacyclics, Inc		2,744
	15,548	*	Pozen, Inc		103
	22,810	*	Progenics Pharmaceuticals, Inc		65
	178,940	*,e	Qiagen N.V. (NASDAQ)		3,312
	40,523	*,e	Questcor Pharmaceuticals, Inc		750
	37,364	*,e	Raptor Pharmaceutical Corp		208
	59,007	*	Regeneron Pharmaceuticals, Inc		9,008
	23,464	*	Repligen Corp		140
	11,221	*,e	Repros Therapeutics, Inc		171
	52,596	*	Rigel Pharmaceuticals, Inc		539
	5,222	*,e	Sagent Pharmaceuticals		83
	44,827	*	Salix Pharmaceuticals Ltd		1,898
	45,925	*,e	Sangamo Biosciences, Inc		279
	40,020	*	Santarus, Inc		355
	43,039	*,e	Sciclone Pharmaceuticals, Inc		239
	72,220	*,e	Seattle Genetics, Inc		1,946
	87,069	*,e	Sequenom, Inc		307
	26,901	*,e	SIGA Technologies, Inc		86
	47,540	*,e	Spectrum Pharmaceuticals, Inc		556
	6,322	*	Sucampo Pharmaceuticals, Inc (Class A)		32
	21,433	*,e	Sunesis Pharmaceuticals, Inc		121
	7,001	*	Synageva BioPharma Corp		374
	31,480	*,e	Synergy Pharmaceuticals, Inc		150
	28,613	*,e	Synta Pharmaceuticals Corp		218
	21,017	*	Targacept, Inc		103
	28,521		Techne Corp		2,052
	49,146	*,e	Theravance, Inc		1,273
	280,399		Thermo Electron Corp		16,497
	34,985	*,e	Threshold Pharmaceuticals, Inc		253
	18,970	*,m	Trius Therapeutics, Inc		111
	39,384	*	United Therapeutics Corp		2,201
	26,661	*	Vanda Pharmaceuticals, Inc		107
	9,108	*,e	Ventrus Biosciences, Inc		33
	4,381	*,e	Verastem, Inc		41
	161,189	*	Vertex Pharmaceuticals, Inc		9,019
	72,979	*	Vical, Inc		315
	54,700	*	Viropharma, Inc		1,653
	74,791	*	Vivus, Inc		1,333
	128,177		Warner Chilcott plc		1,730
	70,145	*	Waters Corp		5,845
	97,368	*	Watson Pharmaceuticals, Inc		8,292
	33,276	*	Xenoport, Inc		381
	51,247	*,e	XOMA Corp		189
	54,772	*,e	ZIOPHARM Oncology, Inc		299
	29,473	*,e	Zogenix, Inc		78
			TOTAL PHARMACEUTICALS, BIOTECHNOLOGY & LIFE SCIENCES		934,134

285

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

SHARES			COMPANY	VALUE (000)
REAL ESTATE - 3.6%
	33,340		Acadia Realty Trust	$	827
	11,872		AG Mortgage Investment Trust		286
	10,360		Agree Realty Corp		264
	30,756	*	Alexander & Baldwin, Inc		908
	1,574		Alexander’s, Inc		673
	47,428		Alexandria Real Estate Equities, Inc		3,487
	351,724		AMB Property Corp		12,321
	24,259		American Assets Trust, Inc		650
	70,030		American Campus Communities, Inc		3,073
	261,112		American Capital Agency Corp		9,032
	27,579	e	American Capital Mortgage, Inc		693
	121,124	*	American Realty Capital Trust, Inc		1,421
	301,504		American Tower Corp		21,523
	745,034		Annaly Capital Management, Inc		12,546
	104,198		Anworth Mortgage Asset Corp		709
	109,048		Apartment Investment & Management Co (Class A)		2,834
	21,000		Apollo Commercial Real Estate Finance, Inc		364
	5,944	e	Ares Commercial Real Estate Corp		101
	227,435	*	ARMOUR Residential REIT, Inc		1,742
	45,071		Ashford Hospitality Trust, Inc		379
	38,683		Associated Estates Realty Corp		586
	7,072	*	AV Homes, Inc		105
	72,699		AvalonBay Communities, Inc		9,886
	116,685		BioMed Realty Trust, Inc		2,184
	114,441		Boston Properties, Inc		12,658
	109,374		Brandywine Realty Trust		1,333
	58,646		BRE Properties, Inc (Class A)		2,750
	61,235		Camden Property Trust		3,949
	23,300	e	Campus Crest Communities, Inc		252
	54,804		Capital Lease Funding, Inc		283
	75,421		Capstead Mortgage Corp		1,017
	113,740		CBL & Associates Properties, Inc		2,427
	250,372	*	CBRE Group, Inc		4,609
	62,638		Cedar Shopping Centers, Inc		331
	10,703		Chatham Lodging Trust		149
	24,872	e	Chesapeake Lodging Trust		494
	815,020		Chimera Investment Corp		2,209
	66,987		Colonial Properties Trust		1,410
	25,359		Colony Financial, Inc		494
	4,977	e	Consolidated-Tomoka Land Co		164
	15,000		Coresite Realty		404
	54,562		Corporate Office Properties Trust		1,308
	80,554		Cousins Properties, Inc		640
	51,575		CreXus Investment Corp		558
	93,780		CubeSmart		1,207
	127,256	e	CYS Investments, Inc		1,793
	189,300	e	DCT Industrial Trust, Inc		1,225
	170,033	e	DDR Corp		2,612
	131,313		DiamondRock Hospitality Co		1,265
	92,995	e	Digital Realty Trust, Inc		6,496

286

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

SHARES			COMPANY	VALUE (000)
	105,519		Douglas Emmett, Inc	$	2,434
	203,927		Duke Realty Corp		2,998
	45,206	e	DuPont Fabros Technology, Inc		1,141
	41,887		Dynex Capital, Inc		450
	21,692		EastGroup Properties, Inc		1,154
	86,427		Education Realty Trust, Inc		942
	35,904		Entertainment Properties Trust		1,595
	31,491		Equity Lifestyle Properties, Inc		2,145
	40,925		Equity One, Inc		862
	229,571		Equity Residential		13,207
	26,875		Essex Property Trust, Inc		3,984
	27,824		Excel Trust, Inc		318
	78,727		Extra Space Storage, Inc		2,618
	49,143		Federal Realty Investment Trust		5,175
	102,427	*	FelCor Lodging Trust, Inc		486
	67,857	*	First Industrial Realty Trust, Inc		892
	38,591		First Potomac Realty Trust		497
	108,468	*	Forest City Enterprises, Inc (Class A)		1,719
	29,389	*	Forestar Real Estate Group, Inc		490
	56,329	e	Franklin Street Properties Corp		624
	408,401		General Growth Properties, Inc		7,956
	18,098	e	Getty Realty Corp		325
	6,667	e	Gladstone Commercial Corp		122
	106,365		Glimcher Realty Trust		1,124
	28,458	e	Government Properties Income Trust		666
	34,683	*	Gramercy Capital Corp		104
	911	*,e	Gyrodyne Co of America, Inc		99
	71,728		Hatteras Financial Corp		2,022
	320,782		HCP, Inc		14,268
	195,958		Health Care REIT, Inc		11,317
	62,374		Healthcare Realty Trust, Inc		1,438
	131,578		Hersha Hospitality Trust		645
	56,490		Highwoods Properties, Inc		1,843
	37,183	e	Home Properties, Inc		2,278
	94,278		Hospitality Properties Trust		2,242
	549,227		Host Marriott Corp		8,815
	20,901	*	Howard Hughes Corp		1,485
	60,803		HRPT Properties Trust		885
	27,463		Hudson Pacific Properties		508
	64,150		Inland Real Estate Corp		529
	87,900		Invesco Mortgage Capital, Inc		1,769
	74,579	e	Investors Real Estate Trust		617
	71,105	*,e	iStar Financial, Inc		589
	33,460		Jones Lang LaSalle, Inc		2,555
	26,989	e	Kennedy-Wilson Holdings, Inc		377
	57,116		Kilroy Realty Corp		2,558
	312,567		Kimco Realty Corp		6,336
	35,097		Kite Realty Group Trust		179
	65,968		LaSalle Hotel Properties		1,761
	87,513	e	Lexington Corporate Properties Trust		845
	84,513	e	Liberty Property Trust		3,063
	24,755		LTC Properties, Inc		788

287

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

SHARES			COMPANY	VALUE (000)
	101,262		Macerich Co	$	5,795
	67,066		Mack-Cali Realty Corp		1,784
	102,587		Medical Properties Trust, Inc		1,072
	267,655		MFA Mortgage Investments, Inc		2,275
	31,305		Mid-America Apartment Communities, Inc		2,045
	14,218		Mission West Properties, Inc		124
	31,123		Monmouth Real Estate Investment Corp (Class A)		348
	20,485		National Health Investors, Inc		1,054
	82,574		National Retail Properties, Inc		2,519
	12,951		New York Mortgage Trust, Inc		91
	101,983	e	NorthStar Realty Finance Corp		649
	32,022	e	NRDC Acquisition Corp		412
	80,717		Omega Healthcare Investors, Inc		1,835
	6,398		One Liberty Properties, Inc		119
	26,223		Parkway Properties, Inc		351
	40,071		Pebblebrook Hotel Trust		937
	45,188		Pennsylvania Real Estate Investment Trust		717
	45,080		Pennymac Mortgage Investment Trust		1,054
	130,905		Piedmont Office Realty Trust, Inc		2,270
	123,533		Plum Creek Timber Co, Inc		5,416
	41,348		Post Properties, Inc		1,983
	30,874		Potlatch Corp		1,154
	14,049		PS Business Parks, Inc		939
	108,920		Public Storage, Inc		15,157
	41,823	e	RAIT Investment Trust		220
	35,302		Ramco-Gershenson Properties		442
	93,415		Rayonier, Inc		4,578
	105,037	e	Realty Income Corp		4,295
	60,300	e	Redwood Trust, Inc		872
	69,743		Regency Centers Corp		3,399
	83,706		Resource Capital Corp		492
	68,579	e	Retail Properties of America, Inc		776
	81,349		RLJ Lodging Trust		1,538
	16,171	e	Rouse Properties, Inc		232
	28,029		Sabra Healthcare REIT, Inc		561
	6,582		Saul Centers, Inc		292
	6,836		Select Income REIT		168
	124,150		Senior Housing Properties Trust		2,704
	231,553		Simon Property Group, Inc		35,151
	68,406		SL Green Realty Corp		5,477
	21,282		Sovran Self Storage, Inc		1,231
	49,920	*,e	St. Joe Co		973
	18,598		STAG Industrial, Inc		302
	88,626		Starwood Property Trust, Inc		2,062
	134,064	*	Strategic Hotels & Resorts, Inc		806
	22,677	e	Summit Hotel Properties, Inc		194
	23,544	e	Sun Communities, Inc		1,039
	89,758	*	Sunstone Hotel Investors, Inc		987
	70,595		Tanger Factory Outlet Centers, Inc		2,282
	44,830		Taubman Centers, Inc		3,440
	11,747	*	Tejon Ranch Co		353
	10,412		Terreno Realty Corp		165

288

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

SHARES			COMPANY	VALUE (000)
	24,399		Thomas Properties Group, Inc	$	142
	221,889		Two Harbors Investment Corp		2,607
	188,706		UDR, Inc		4,684
	6,794		UMH Properties, Inc		81
	10,285	e	Universal Health Realty Income Trust		473
	19,529		Urstadt Biddle Properties, Inc (Class A)		395
	220,633		Ventas, Inc		13,734
	141,093		Vornado Realty Trust		11,436
	49,089		Washington Real Estate Investment Trust		1,317
	92,487		Weingarten Realty Investors		2,600
	5,974	e	Western Asset Mortgage Capital Corp		133
	407,759		Weyerhaeuser Co		10,659
	6,173	e	Whitestone REIT		81
	24,416		Winthrop Realty Trust		263
	3,100	*	Zillow, Inc		131
			TOTAL REAL ESTATE		436,337
RETAILING - 4.2%
	14,742	*	1-800-FLOWERS.COM, Inc (Class A)		55
	59,378		Aaron’s, Inc		1,651
	64,852		Abercrombie & Fitch Co (Class A)		2,200
	56,359		Advance Auto Parts, Inc		3,857
	61,843	*	Aeropostale, Inc		837
	276,073	*	Amazon.com, Inc		70,210
	149,222		American Eagle Outfitters, Inc		3,146
	6,968	*	America’s Car-Mart, Inc		317
	37,641	*	Ann Taylor Stores Corp		1,420
	19,614	*	Asbury Automotive Group, Inc		548
	91,526	*	Ascena Retail Group, Inc		1,963
	10,900	*	Audiovox Corp (Class A)		82
	26,872	*,e	Autonation, Inc		1,174
	29,004	*	Autozone, Inc		10,722
	23,047	*,e	Barnes & Noble, Inc		295
	23,033		Bebe Stores, Inc		111
	178,357	*	Bed Bath & Beyond, Inc		11,235
	207,694		Best Buy Co, Inc		3,570
	15,894		Big 5 Sporting Goods Corp		158
	50,822	*	Big Lots, Inc		1,503
	10,661	*,e	Blue Nile, Inc		395
	8,762	*	Body Central Corp		92
	9,116	e	Bon-Ton Stores, Inc		87
	32,106		Brown Shoe Co, Inc		515
	21,122	e	Buckle, Inc		960
	34,762	*	Cabela’s, Inc		1,901
	3,823	*,e	CafePress, Inc		35
	173,276	*	Carmax, Inc		4,904
	32,976	*	Casual Male Retail Group, Inc		153
	21,208		Cato Corp (Class A)		630
	130,733		Chico’s FAS, Inc		2,368
	18,517	*	Children’s Place Retail Stores, Inc		1,111
	12,866	*	Citi Trends, Inc		162
	46,617	*	Collective Brands, Inc		1,012

289

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

SHARES			COMPANY	VALUE (000)
	12,208	*,e	Conn’s, Inc	$	269
	8,334		Core-Mark Holding Co, Inc		401
	10,433		Destination Maternity Corp		195
	71,204		Dick’s Sporting Goods, Inc		3,692
	22,481		Dillard’s, Inc (Class A)		1,626
	140,673	*	Dollar General Corp		7,250
	176,696	*	Dollar Tree, Inc		8,530
	25,085		DSW, Inc (Class A)		1,674
	66,797		Expedia, Inc		3,864
	68,225		Express Parent LLC		1,011
	73,774		Family Dollar Stores, Inc		4,891
	39,004		Finish Line, Inc (Class A)		887
	8,200	*	Five Below, Inc		320
	115,838		Foot Locker, Inc		4,112
	26,617	*,e	Francesca’s Holdings Corp		818
	29,664		Fred’s, Inc (Class A)		422
	95,132	e	GameStop Corp (Class A)		1,998
	231,166		Gap, Inc		8,271
	18,687	*	Genesco, Inc		1,247
	118,350		Genuine Parts Co		7,222
	51,477		GNC Holdings, Inc		2,006
	3,931	*	Gordmans Stores, Inc		73
	17,052		Group 1 Automotive, Inc		1,027
	30,800	*,e	Groupon, Inc		147
	47,951		Guess?, Inc		1,219
	16,062		Haverty Furniture Cos, Inc		223
	13,509	*,e	HHgregg, Inc		93
	20,590	*	Hibbett Sports, Inc		1,224
	1,167,614		Home Depot, Inc		70,488
	24,363	*,e	HomeAway, Inc		571
	36,184		Hot Topic, Inc		315
	28,823		HSN, Inc		1,414
	121,911	e	JC Penney Co, Inc		2,961
	21,133	*	JOS A Bank Clothiers, Inc		1,025
	2,600	*	Kayak Software Corporation		92
	13,001	*	Kirkland’s, Inc		129
	185,731		Kohl’s Corp		9,513
	426,539	*	Liberty Media Holding Corp (Interactive A)		7,891
	21,326	*	Liberty Ventures		1,059
	184,218		Limited Brands, Inc		9,075
	16,330		Lithia Motors, Inc (Class A)		544
	225,192	*	LKQ Corp		4,166
	917,543		Lowe’s Companies, Inc		27,746
	21,092	*,e	Lumber Liquidators, Inc		1,069
	316,537		Macy’s, Inc		11,908
	16,477	*	MarineMax, Inc		137
	8,386	*,e	Mattress Firm Holding Corp		236
	39,013		Men’s Wearhouse, Inc		1,343
	22,581	e	Monro Muffler, Inc		795
	42,034	*,e	NetFlix, Inc		2,288
	13,306	*	New York & Co, Inc		50
	120,277		Nordstrom, Inc		6,637

290

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

SHARES			COMPANY	VALUE (000)
	20,499	e	Nutri/System, Inc	$	216
	212,310	*	Office Depot, Inc		544
	64,982		OfficeMax, Inc		508
	23,547	*	Orbitz Worldwide, Inc		60
	1,270	*	Orchard Supply Hardware Stores Corp		18
	90,795	*	O’Reilly Automotive, Inc		7,592
	11,517	*,e	Overstock.com, Inc		119
	30,900		Penske Auto Group, Inc		930
	37,199		PEP Boys - Manny Moe & Jack		379
	15,450	e	PetMed Express, Inc		155
	83,480		Petsmart, Inc		5,758
	73,840		Pier 1 Imports, Inc		1,384
	38,016	*	Priceline.com, Inc		23,521
	78,808	e	RadioShack Corp		188
	45,460		Rent-A-Center, Inc		1,595
	172,917		Ross Stores, Inc		11,169
	11,225	*	Rue21, Inc		350
	85,217	*,e	Saks, Inc		879
	116,447	*	Sally Beauty Holdings, Inc		2,922
	25,574	*,e	Sears Holdings Corp		1,419
	42,172	*	Select Comfort Corp		1,331
	10,447		Shoe Carnival, Inc		246
	27,118	*,e	Shutterfly, Inc		844
	65,800		Signet Jewelers Ltd		3,208
	29,758		Sonic Automotive, Inc (Class A)		565
	3,181	*	Sourceforge, Inc		62
	26,435		Stage Stores, Inc		557
	528,058	e	Staples, Inc		6,083
	17,973		Stein Mart, Inc		153
	9,938	*	Systemax, Inc		117
	504,799		Target Corp		32,039
	5,400	*,e	Teavana Holdings, Inc		70
	97,585		Tiffany & Co		6,039
	6,790	*	Tilly’s, Inc		124
	567,881		TJX Companies, Inc		25,434
	54,999		Tractor Supply Co		5,439
	66,371	*	TripAdvisor, Inc		2,186
	21,617	*	Tuesday Morning Corp		142
	48,024		Ulta Salon Cosmetics & Fragrance, Inc		4,625
	81,376	*	Urban Outfitters, Inc		3,056
	9,604	*	US Auto Parts Network, Inc		33
	16,534	*,e	Vitacost.com, Inc		112
	22,533	*	Vitamin Shoppe, Inc		1,314
	11,292	*	West Marine, Inc		120
	73,584	*	Wet Seal, Inc (Class A)		232
	68,687		Williams-Sonoma, Inc		3,020
	1,945		Winmark Corp		105
	17,544	*,e	Zumiez, Inc		486
			TOTAL RETAILING		512,991

291

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

SHARES			COMPANY	VALUE (000)
SEMICONDUCTORS & SEMICONDUCTOR EQUIPMENT - 2.1%
	29,482	*	Advanced Energy Industries, Inc	$	363
	480,660	*,e	Advanced Micro Devices, Inc		1,620
	11,245	*	Alpha & Omega Semiconductor Lt		97
	244,761		Altera Corp		8,318
	73,037	*,e	Amkor Technology, Inc		321
	47,982	*	Anadigics, Inc		67
	227,700		Analog Devices, Inc		8,925
	979,117		Applied Materials, Inc		10,933
	51,846	*	Applied Micro Circuits Corp		262
	351,660	*	Atmel Corp		1,850
	24,963	*	ATMI, Inc		464
	33,948	*	AuthenTec, Inc		272
	183,074		Avago Technologies Ltd		6,383
	61,290	*	Axcelis Technologies, Inc		64
	23,951	*	AXT, Inc		81
	418,912		Broadcom Corp (Class A)		14,487
	52,087		Brooks Automation, Inc		418
	17,924		Cabot Microelectronics Corp		630
	36,308	*	Cavium Networks, Inc		1,210
	18,075	*	Ceva, Inc		260
	50,384	*	Cirrus Logic, Inc		1,934
	15,857		Cohu, Inc		149
	88,620	*,e	Cree, Inc		2,262
	23,525	*	Cymer, Inc		1,201
	122,394		Cypress Semiconductor Corp		1,312
	28,713	*	Diodes, Inc		488
	21,955	*	DSP Group, Inc		130
	105,554	*	Entegris, Inc		858
	59,143	*	Entropic Communications, Inc		344
	25,111	*	Exar Corp		201
	95,996	*	Fairchild Semiconductor International, Inc		1,259
	44,208	*,e	First Solar, Inc		979
	34,973	*	Formfactor, Inc		195
	38,914	*,e	Freescale Semiconductor Holdings Ltd		370
	30,933	*	FSI International, Inc		192
	13,134	*	GSI Technology, Inc		65
	94,807	*,e	GT Solar International, Inc		517
	25,280	*	Hittite Microwave Corp		1,402
	15,509	*	Inphi Corp		165
	110,719	*	Integrated Device Technology, Inc		651
	19,660	*	Integrated Silicon Solution, Inc		182
	3,838,775		Intel Corp		87,064
	10,099	*	Intermolecular, Inc		72
	54,670	*	International Rectifier Corp		912
	94,162		Intersil Corp (Class A)		824
	16,725	*	IXYS Corp		166
	128,607		Kla-Tencor Corp		6,135
	50,517	*	Kopin Corp		190
	139,384	*	Lam Research Corp		4,430
	90,159	*	Lattice Semiconductor Corp		345
	172,947		Linear Technology Corp		5,508
	447,590	*	LSI Logic Corp		3,093
	37,527	*	LTX-Credence Corp		216

292

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

SHARES			COMPANY	VALUE (000)
	4,431	*	MA-COM Technology Solutions	$	56
	358,491		Marvell Technology Group Ltd		3,280
	44,020	*,e	Mattson Technology, Inc		43
	223,022		Maxim Integrated Products, Inc		5,937
	12,640	*	MaxLinear, Inc		85
	172,909	*	MEMC Electronic Materials, Inc		475
	40,439		Micrel, Inc		421
	145,335	e	Microchip Technology, Inc		4,758
	756,136	*	Micron Technology, Inc		4,525
	65,939	*	Microsemi Corp		1,323
	24,281	*,e	Mindspeed Technologies, Inc		84
	39,820	*	MIPS Technologies, Inc		294
	38,788		MKS Instruments, Inc		989
	21,310	*	Monolithic Power Systems, Inc		421
	20,301	*	MoSys, Inc		82
	18,167	*	Nanometrics, Inc		251
	6,600	*	NeoPhotonics Corp Ltd		39
	3,184	*	NVE Corp		188
	472,164	*	Nvidia Corp		6,299
	42,750	*	Omnivision Technologies, Inc		597
	346,536	*	ON Semiconductor Corp		2,138
	17,237	*	PDF Solutions, Inc		235
	4,800	*	Peregrine Semiconductor Corp		81
	19,298	*	Pericom Semiconductor Corp		168
	46,544	*	Photronics, Inc		250
	26,715	*	PLX Technology, Inc		154
	173,538	*	PMC - Sierra, Inc		979
	22,028		Power Integrations, Inc		670
	29,857	*,e	QuickLogic Corp		84
	84,186	*,e	Rambus, Inc		466
	209,504	*	RF Micro Devices, Inc		828
	11,027	*,e	Rubicon Technology, Inc		106
	20,900	*	Rudolph Technologies, Inc		219
	50,038	*	Semtech Corp		1,258
	27,850	*	Sigma Designs, Inc		184
	56,384	*	Silicon Image, Inc		259
	32,688	*	Silicon Laboratories, Inc		1,202
	143,829	*	Skyworks Solutions, Inc		3,389
	38,295	*	Spansion, Inc		456
	21,697	*,e	STR Holdings, Inc		67
	35,781	*,e	SunPower Corp		161
	8,595	*	Supertex, Inc		154
	142,774	*	Teradyne, Inc		2,030
	36,930		Tessera Technologies, Inc		505
	873,675		Texas Instruments, Inc		24,071
	121,131	*	Triquint Semiconductor, Inc		612
	17,159	*	Ultra Clean Holdings		98
	18,851	*	Ultratech, Inc		592
	31,233	*,e	Veeco Instruments, Inc		938
	18,190	*	Volterra Semiconductor Corp		398
	199,973		Xilinx, Inc		6,681
			TOTAL SEMICONDUCTORS & SEMICONDUCTOR EQUIPMENT		260,416

293

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

SHARES			COMPANY	VALUE (000)
SOFTWARE & SERVICES - 9.5%
	38,595	*	Accelrys, Inc	$	334
	492,079		Accenture plc		34,460
	30,248	*	ACI Worldwide, Inc		1,278
	29,457	*	Active Network, Inc		369
	323,808		Activision Blizzard, Inc		3,653
	40,528	*	Actuate Corp		285
	62,110	*	Acxiom Corp		1,135
	382,477	*	Adobe Systems, Inc		12,415
	24,736	*	Advent Software, Inc		608
	138,575	*	Akamai Technologies, Inc		5,302
	38,484	*	Alliance Data Systems Corp		5,463
	128,971		Amdocs Ltd		4,255
	15,720	*	American Software, Inc (Class A)		128
	23,501	*,e	Ancestry.com, Inc		707
	27,450	*,e	Angie’s List, Inc		290
	70,483	*	Ansys, Inc		5,173
	71,841	*	AOL, Inc		2,531
	74,946	*	Ariba, Inc		3,358
	71,278	*	Aspen Technology, Inc		1,843
	176,436	*	Autodesk, Inc		5,888
	373,800		Automatic Data Processing, Inc		21,927
	7,000	*	AVG Technologies NV		67
	35,339	*,e	Bankrate, Inc		551
	8,300	*,e	Bazaarvoice, Inc		126
	35,258		Blackbaud, Inc		843
	30,473	*	Blucora, Inc		543
	124,623	*	BMC Software, Inc		5,171
	16,977	e	Booz Allen Hamilton Holding Co		235
	27,849	*	Bottomline Technologies, Inc		688
	4,700	*,e	Brightcove, Inc		55
	95,422		Broadridge Financial Solutions, Inc		2,226
	20,308	*,e	BroadSoft, Inc		833
	271,049		CA, Inc		6,984
	20,259	*	CACI International, Inc (Class A)		1,049
	209,812	*	Cadence Design Systems, Inc		2,699
	23,561	*,e	Callidus Software, Inc		116
	8,488	*,e	Carbonite, Inc		60
	32,719	*	Cardtronics, Inc		974
	7,040		Cass Information Systems, Inc		295
	52,926	*	Ciber, Inc		184
	142,733	*	Citrix Systems, Inc		10,929
	10,743	*,m	Clinical Data, Inc		10
	232,543	*	Cognizant Technology Solutions Corp (Class A)		16,259
	33,451	*	Commvault Systems, Inc		1,964
	118,719		Computer Sciences Corp		3,824
	11,045	*	Computer Task Group, Inc		179
	173,306	*	Compuware Corp		1,717
	24,577	*	comScore, Inc		375
	34,178	*	Concur Technologies, Inc		2,520
	21,930	*,e	Constant Contact, Inc		382

294

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

SHARES			COMPANY	VALUE (000)
	89,018		Convergys Corp	$	1,395
	25,908	*,e	Cornerstone OnDemand, Inc		794
	19,733	*	CoStar Group, Inc		1,609
	28,626	*	CSG Systems International, Inc		644
	32,566	*	DealerTrack Holdings, Inc		907
	13,498	*,e	Deltek, Inc		176
	22,760	*,e	Demand Media, Inc		247
	5,143	*,e	Demandware, Inc		163
	37,330	*	Dice Holdings, Inc		314
	29,296	*	Digital River, Inc		488
	5,437		DMRC Corp		121
	26,145		DST Systems, Inc		1,479
	82,942		Earthlink, Inc		591
	884,308	*	eBay, Inc		42,809
	23,473	e	Ebix, Inc		554
	245,797	*	Electronic Arts, Inc		3,119
	20,207	*	Ellie Mae, Inc		550
	7,000	*	Eloqua, Inc		138
	15,051	*	Envestnet, Inc		176
	5,877	*,e	Envivio, Inc		13
	4,600	*,e	EPAM Systems, Inc		87
	25,591		EPIQ Systems, Inc		343
	2,603	*	ePlus, Inc		102
	36,582	*	Equinix, Inc		7,538
	36,402	*	Euronet Worldwide, Inc		684
	7,315	*,e	ExactTarget, Inc		177
	17,988	*	ExlService Holdings, Inc		531
	321,719	*,e	Facebook, Inc		6,965
	34,865	e	Factset Research Systems, Inc		3,362
	26,950		Fair Isaac Corp		1,193
	22,225	*	FalconStor Software, Inc		52
	191,511		Fidelity National Information Services, Inc		5,979
	81,517	*	First American Corp		2,163
	105,750	*	Fiserv, Inc		7,829
	37,123	*	FleetCor Technologies, Inc		1,663
	11,266		Forrester Research, Inc		324
	99,834	*	Fortinet, Inc		2,410
	73,416	*	Gartner, Inc		3,384
	96,351		Genpact Ltd		1,607
	19,206	*,e,m	Gerber Scientific, Inc		0	^
	51,313	*	Global Cash Access, Inc		413
	60,916		Global Payments, Inc		2,548
	49,882	*,e	Glu Mobile, Inc		231
	197,559	*	Google, Inc (Class A)		149,057
	9,927	*	Guidance Software, Inc		112
	14,724	*	Guidewire Software, Inc		457
	30,102	*	Hackett Group, Inc		126
	28,656		Heartland Payment Systems, Inc		908
	23,633	*,e	Higher One Holdings, Inc		319
	58,207		IAC/InterActiveCorp		3,030
	23,666	*	iGate Corp		430
	7,359	*	Imperva, Inc		272

295

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

SHARES			COMPANY	VALUE (000)
	5,964	*,e	Infoblox, Inc	$	139
	82,708	*	Informatica Corp		2,879
	16,757	*,e	Innodata Isogen, Inc		68
	11,116	*	Interactive Intelligence, Inc		334
	34,783	*	Internap Network Services Corp		245
	831,844		International Business Machines Corp		172,565
	224,169		Intuit, Inc		13,199
	41,039	*,e	Ipass, Inc		90
	34,679	e	j2 Global, Inc		1,138
	66,573		Jack Henry & Associates, Inc		2,523
	32,026	*	JDA Software Group, Inc		1,018
	11,700	*,e	Jive Software, Inc		184
	20,173	*	Kenexa Corp		925
	10,875		Keynote Systems, Inc		157
	27,331	*,e	KIT Digital, Inc		82
	19,259	*	Knot, Inc		161
	65,087		Lender Processing Services, Inc		1,815
	50,961	*,e	Limelight Networks, Inc		119
	47,263	*	LinkedIn Corp		5,690
	44,720	*	Lionbridge Technologies		157
	17,773	*	Liquidity Services, Inc		892
	40,701	*	Liveperson, Inc		737
	15,508	*	LogMeIn, Inc		348
	11,258	*	magicJack VocalTec Ltd		276
	15,963	*	Manhattan Associates, Inc		914
	18,418		Mantech International Corp (Class A)		442
	16,386	e	Marchex, Inc (Class B)		63
	17,156	*	Market Leader, Inc		115
	82,794		Mastercard, Inc (Class A)		37,380
	7,271	*,e	Mattersight Corp		43
	25,522		MAXIMUS, Inc		1,524
	23,100	*,e	MeetMe, Inc		66
	73,403	*	Mentor Graphics Corp		1,136
	60,589	*	Micros Systems, Inc		2,976
	5,744,199		Microsoft Corp		171,063
	6,468	*	MicroStrategy, Inc (Class A)		867
	8,300	*,e	Millennial Media, Inc		119
	33,165		ModusLink Global Solutions, Inc		122
	16,742	*	MoneyGram International, Inc		250
	27,277		Monotype Imaging Holdings, Inc		425
	95,930	*	Monster Worldwide, Inc		703
	29,335	*	Move, Inc		253
	28,739	*	Netscout Systems, Inc		733
	23,872	*	NetSuite, Inc		1,523
	51,981	*	NeuStar, Inc (Class A)		2,081
	48,579		NIC, Inc		719
	184,404	*	Nuance Communications, Inc		4,590
	17,950	*,e	OpenTable, Inc		747
	11,138		Opnet Technologies, Inc		379
	2,915,696		Oracle Corp		91,816
	90,859	*	Parametric Technology Corp		1,981
	247,664		Paychex, Inc		8,245

296

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

SHARES			COMPANY	VALUE (000)
	12,459	e	Pegasystems, Inc	$	362
	20,679	*	Perficient, Inc		250
	9,472	*	Pervasive Software, Inc		81
	14,513	*	PRG-Schultz International, Inc		124
	50,287	*	Progress Software Corp		1,076
	4,536	*,e	Proofpoint, Inc		67
	14,689	*	PROS Holdings, Inc		280
	3,320	*	QAD, Inc (Class A)		45
	65,002	*	QLIK Technologies, Inc		1,457
	44,391	*,m	Quest Software, Inc		1,243
	20,643	*	QuinStreet, Inc		173
	83,238	*	Rackspace Hosting, Inc		5,501
	18,038		RealNetworks, Inc		150
	27,469	*,e	RealPage, Inc		621
	147,339	*	Red Hat, Inc		8,389
	27,251	*	Responsys, Inc		279
	8,173	*	Rosetta Stone, Inc		104
	85,331	*	Rovi Corp		1,238
	18,173	*	Saba Software, Inc		182
	217,031		SAIC, Inc		2,613
	105,902	*	Salesforce.com, Inc		16,171
	93,643		Sapient Corp		998
	13,766	*	Sciquest, Inc		251
	21,571	*	Seachange International, Inc		169
	10,800	*	ServiceNow, Inc		418
	38,121	*,e	ServiceSource International LLC		391
	46,540	*	SolarWinds, Inc		2,594
	53,861		Solera Holdings, Inc		2,363
	22,394	*	Sourcefire, Inc		1,098
	8,175	*,e	Spark Networks, Inc		50
	11,818	*,m	Splunk, Inc		434
	8,010	*	SPS Commerce, Inc		308
	25,703	*	SS&C Technologies Holdings, Inc		648
	12,380		Stamps.com, Inc		286
	32,388	*	SupportSoft, Inc		137
	550,414	*	Symantec Corp		9,907
	5,117	*	Synacor, Inc		39
	20,217	*	Synchronoss Technologies, Inc		463
	111,101	*	Synopsys, Inc		3,669
	11,627		Syntel, Inc		726
	24,737	*	TA Indigo Holding Corp		162
	59,506	*	Take-Two Interactive Software, Inc		621
	23,016	*	Tangoe, Inc		302
	4,323	*	TechTarget, Inc		26
	12,644	*	TeleNav, Inc		75
	19,317	*	TeleTech Holdings, Inc		329
	128,452	*	Teradata Corp		9,687
	124,754	*	TIBCO Software, Inc		3,771
	92,801	*	TiVo, Inc		968
	19,243	*	TNS, Inc		288
	121,982		Total System Services, Inc		2,891
	4,369	*,e	Travelzoo, Inc		103

297

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

SHARES			COMPANY	VALUE (000)
	24,748	*	Tyler Technologies, Inc	$	1,089
	20,377	*	Ultimate Software Group, Inc		2,080
	32,818	*	Unisys Corp		683
	61,183		United Online, Inc		338
	63,876	*	Unwired Planet, Inc		123
	62,276	*	Valueclick, Inc		1,071
	30,006	*	Vantiv, Inc		647
	19,828	*	Vasco Data Security International		186
	82,056	*	VeriFone Systems, Inc		2,285
	16,436	*,e	Verint Systems, Inc		451
	121,458		VeriSign, Inc		5,914
	32,131	*,e	VirnetX Holding Corp		817
	11,849	*	Virtusa Corp		211
	398,676		Visa, Inc (Class A)		53,534
	26,079	*,e	VistaPrint Ltd		891
	67,563	*	VMware, Inc (Class A)		6,536
	15,521	*	Vocus, Inc		311
	41,422	*,e	WebMD Health Corp (Class A)		581
	29,640	*	Websense, Inc		464
	26,004	*	Website Pros, Inc		467
	473,750		Western Union Co		8,632
	29,100	*	Wright Express Corp		2,029
	931,758	*	Yahoo!, Inc		14,885
	6,421	*	Yelp, Inc		174
	47,197	*	Zix Corp		135
	92,800	*,e	Zynga, Inc		264
			TOTAL SOFTWARE & SERVICES		1,160,235
TECHNOLOGY HARDWARE & EQUIPMENT - 7.4%
	35,804	*,e	3D Systems Corp		1,176
	44,402	*,e	Acme Packet, Inc		759
	49,633	e	Adtran, Inc		858
	18,766	*	Agilysys, Inc		161
	123,815		Amphenol Corp (Class A)		7,290
	14,600	*	Anaren, Inc		292
	21,570		Anixter International, Inc		1,239
	713,696		Apple, Inc		476,221
	85,446	*	Arris Group, Inc		1,093
	85,185	*	Arrow Electronics, Inc		2,872
	85,572	*,e	Aruba Networks, Inc		1,924
	4,841	*,e	Audience, Inc		30
	24,879	*	Avid Technology, Inc		235
	110,749	*	Avnet, Inc		3,222
	34,410		AVX Corp		330
	9,650		Aware, Inc		61
	15,077	*	AX Holding Corp		100
	13,564		Badger Meter, Inc		494
	7,316		Bel Fuse, Inc (Class B)		137
	46,204	*	Benchmark Electronics, Inc		706
	13,787		Black Box Corp		352
	52,612	*,e	Bookham, Inc		142
	53,964	*	Brightpoint, Inc		485

298

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

SHARES			COMPANY	VALUE (000)
	350,572	*	Brocade Communications Systems, Inc	$	2,074
	21,514	*	CalAmp Corp		177
	28,887	*,e	Calix Networks, Inc		185
	30,668	*	Checkpoint Systems, Inc		254
	75,431	*,e	Ciena Corp		1,026
	4,087,437		Cisco Systems, Inc		78,029
	32,766		Cognex Corp		1,133
	19,403	*	Coherent, Inc		890
	19,075		Comtech Telecommunications Corp		527
	166,546	*	Comverse Technology, Inc		1,024
	1,159,207		Corning, Inc		15,244
	28,033	*	Cray, Inc		356
	23,637		CTS Corp		238
	22,322		Daktronics, Inc		212
	11,133	*	Datalink Corp		92
	1,125,729		Dell, Inc		11,100
	47,853		Diebold, Inc		1,613
	18,652	*	Digi International, Inc		190
	39,772	*,e	Dolby Laboratories, Inc (Class A)		1,303
	16,172	*	DTS, Inc		376
	24,998	*	Echelon Corp		96
	28,785	*	EchoStar Corp (Class A)		825
	11,677		Electro Rent Corp		207
	17,062		Electro Scientific Industries, Inc		208
	39,428	*	Electronics for Imaging, Inc		655
	1,601,386	*	EMC Corp		43,670
	65,177	*	Emulex Corp		470
	89,895	*	Extreme Networks, Inc		300
	61,456	*	F5 Networks, Inc		6,434
	15,539	*	Fabrinet		180
	12,851	*	FARO Technologies, Inc		531
	29,895		FEI Co		1,599
	69,390	*,e	Finisar Corp		992
	118,407		Flir Systems, Inc		2,365
	51,681	*,e	Fusion-io, Inc		1,564
	14,375	*	Globecomm Systems, Inc		160
	20,123	*	GSI Group, Inc		179
	85,574	*	Harmonic, Inc		389
	88,732		Harris Corp		4,545
	42,057	*	Harris Stratex Networks, Inc (Class A)		100
	1,509,714		Hewlett-Packard Co		25,756
	21,588	*	Imation Corp		121
	18,659	*	Immersion Corp		102
	88,583	*,e	Infinera Corp		485
	116,956	*	Ingram Micro, Inc (Class A)		1,781
	34,716	*	Insight Enterprises, Inc		607
	32,759	e	InterDigital, Inc		1,221
	45,111	*	Intermec, Inc		280
	14,156	*	Intevac, Inc		86
	28,033	*,e	InvenSense, Inc		335
	24,446	*,e	IPG Photonics Corp		1,401
	31,091	*	Itron, Inc		1,342

299

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

SHARES			COMPANY	VALUE (000)
	29,634	*	Ixia	$	476
	142,635		Jabil Circuit, Inc		2,670
	176,416	*	JDS Uniphase Corp		2,185
	404,685	*	Juniper Networks, Inc		6,924
	33,781	*	Kemet Corp		149
	7,812	*	Key Tronic Corp		77
	10,929	*	KVH Industries, Inc		147
	55,449	e	Lexmark International, Inc (Class A)		1,234
	17,104		Littelfuse, Inc		967
	8,072		Loral Space & Communications, Inc		574
	22,942	*,e	Maxwell Technologies, Inc		186
	11,532	*	Measurement Specialties, Inc		380
	23,128	*	Mercury Computer Systems, Inc		246
	1,988		Mesa Laboratories, Inc		96
	28,385		Methode Electronics, Inc		276
	104,638	e	Molex, Inc		2,750
	223,045		Motorola, Inc		11,275
	13,932		MTS Systems Corp		746
	9,079	*	Multi-Fineline Electronix, Inc		205
	69,482		National Instruments Corp		1,749
	122,276	*	NCR Corp		2,850
	17,608	*,e	Neonode, Inc		66
	279,323	*	NetApp, Inc		9,184
	28,803	*	Netgear, Inc		1,099
	27,910	*	Newport Corp		309
	7,509	*,e	Numerex Corp		85
	58,785	*,e	OCZ Technology Group, Inc		204
	15,398	*	Oplink Communications, Inc		255
	14,702	*	OSI Systems, Inc		1,144
	5,100	*	Palo Alto Networks, Inc		314
	18,452		Park Electrochemical Corp		458
	56,204	*,e	Parkervision, Inc		132
	6,868		PC Connection, Inc		79
	13,367		PC-Tel, Inc		94
	34,900		Plantronics, Inc		1,233
	27,845	*	Plexus Corp		843
	135,032	*	Polycom, Inc		1,333
	53,353	*	Power-One, Inc		299
	16,952	*	Procera Networks, Inc		398
	79,841	*	QLogic Corp		912
	1,308,116		Qualcomm, Inc		81,743
	171,155	*	Quantum Corp		276
	25,143	*,e	Rackable Systems, Inc		229
	15,185	*	Radisys Corp		55
	37,752	*,e	RealD, Inc		338
	11,626		Richardson Electronics Ltd		138
	120,998	*	Riverbed Technology, Inc		2,816
	21,664	*	Rofin-Sinar Technologies, Inc		427
	12,342	*	Rogers Corp		523
	185,981	*	SanDisk Corp		8,077
	61,646	*	Sanmina-SCI Corp		523
	22,159	*	Scansource, Inc		710

300

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

SHARES			COMPANY	VALUE (000)
	31,292	*	ShoreTel, Inc	$	128
	165,491	*	Sonus Networks, Inc		311
	27,036	*	STEC, Inc		182
	15,369	*,e	Stratasys, Inc		836
	20,839	*	Super Micro Computer, Inc		251
	14,861		Sycamore Networks, Inc		229
	35,188	*	Symmetricom, Inc		245
	26,694	*,e	Synaptics, Inc		641
	19,931	*	SYNNEX Corp		649
	30,951	*	Tech Data Corp		1,402
	277,614		Tellabs, Inc		983
	12,947		Telular Corp		128
	3,883		Tessco Technologies, Inc		82
	95,550	*	Trimble Navigation Ltd		4,554
	41,884	*	TTM Technologies, Inc		395
	6,700	*,e	Ubiquiti Networks, Inc		80
	29,474	*,e	Universal Display Corp		1,013
	27,617	*,e	Viasat, Inc		1,032
	3,408	*	Viasystems Group, Inc		59
	115,954	*	Vishay Intertechnology, Inc		1,140
	9,508	*	Vishay Precision Group, Inc		133
	40,762	*	Westell Technologies, Inc		87
	179,504		Western Digital Corp		6,952
	1,028,752		Xerox Corp		7,551
	41,665	*	Zebra Technologies Corp (Class A)		1,564
	12,959	*	Zygo Corp		237
			TOTAL TECHNOLOGY HARDWARE & EQUIPMENT		896,530
TELECOMMUNICATION SERVICES - 2.9%
	46,463	*	8x8, Inc		305
	4,473,294		AT&T, Inc		168,643
	7,918		Atlantic Tele-Network, Inc		340
	12,079	*,e	Boingo Wireless, Inc		96
	20,132	*	Cbeyond Communications, Inc		199
	475,088		CenturyTel, Inc		19,194
	168,115	*	Cincinnati Bell, Inc		958
	268,714	*,e	Clearwire Corp (Class A)		363
	35,274		Cogent Communications Group, Inc		811
	25,479	e	Consolidated Communications Holdings, Inc		438
	223,713	*	Crown Castle International Corp		14,340
	16,551	*,e	Fairpoint Communications, Inc		125
	762,890	e	Frontier Communications Corp		3,738
	38,028	*	General Communication, Inc (Class A)		373
	7,568	*,e	Hawaiian Telcom Holdco, Inc		134
	10,686		HickoryTech Corp		113
	10,513		IDT Corp (Class B)		108
	24,433	*	inContact, Inc		159
	33,317	*	Iridium Communications, Inc		244
	46,753	*,e	Leap Wireless International, Inc		319
	124,143	*	Level 3 Communications, Inc		2,852
	11,759		Lumos Networks Corp		92
	232,390	*	MetroPCS Communications, Inc		2,721

301

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

SHARES			COMPANY	VALUE (000)
	25,073	*	Neutral Tandem, Inc	$	235
	128,973	*,e	NII Holdings, Inc (Class B)		1,012
	11,759		NTELOS Holdings Corp		204
	28,044	*	Orbcomm, Inc		105
	46,371	*	Premiere Global Services, Inc		434
	9,204		Primus Telecommunications Group, Inc		141
	92,557	*	SBA Communications Corp (Class A)		5,822
	18,151		Shenandoah Telecom Co		319
	2,300,935	*	Sprint Nextel Corp		12,701
	70,668		Telephone & Data Systems, Inc		1,810
	26,456	*,e	Towerstream Corp		107
	108,591	*	tw telecom inc (Class A)		2,831
	9,529	*,e	US Cellular Corp		373
	18,421		USA Mobility, Inc		219
	2,173,149		Verizon Communications, Inc		99,030
	119,221	*	Vonage Holdings Corp		272
	431,835	e	Windstream Corp		4,366
			TOTAL TELECOMMUNICATION SERVICES		346,646
TRANSPORTATION - 1.7%
	44,655	*	Air Transport Services Group, Inc		196
	55,016	*	Alaska Air Group, Inc		1,929
	10,724	*	Allegiant Travel Co		679
	6,973		Amerco, Inc		742
	19,331		Arkansas Best Corp		153
	19,165	*	Atlas Air Worldwide Holdings, Inc		989
	79,295	*	Avis Budget Group, Inc		1,220
	16,346		Celadon Group, Inc		263
	125,834		CH Robinson Worldwide, Inc		7,368
	42,760		Con-Way, Inc		1,170
	24,978		Copa Holdings S.A. (Class A)		2,030
	793,334		CSX Corp		16,461
	648,035	*	Delta Air Lines, Inc		5,937
	21,462	*,e	Dollar Thrifty Automotive Group, Inc		1,866
	11,118	*,e	Echo Global Logistics, Inc		191
	162,491		Expeditors International Washington, Inc		5,908
	240,946		FedEx Corp		20,389
	22,919		Forward Air Corp		697
	20,776	*,e	Genco Shipping & Trading Ltd		76
	30,893	*	Genesee & Wyoming, Inc (Class A)		2,066
	40,654	*	Hawaiian Holdings, Inc		227
	38,365		Heartland Express, Inc		513
	185,631	*	Hertz Global Holdings, Inc		2,549
	28,105	*	Hub Group, Inc (Class A)		834
	4,290		International Shipholding Corp		72
	68,664		J.B. Hunt Transport Services, Inc		3,573
	181,414	*	JetBlue Airways Corp		869
	83,991		Kansas City Southern Industries, Inc		6,365
	40,950	*	Kirby Corp		2,264
	42,524		Knight Transportation, Inc		608
	35,888		Landstar System, Inc		1,697
	10,239		Marten Transport Ltd		180

302

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

SHARES			COMPANY	VALUE (000)
	30,756		Matson, Inc	$	643
	248,774		Norfolk Southern Corp		15,828
	54,394	*	Old Dominion Freight Line		1,641
	31,042	*	Pacer International, Inc		124
	6,136	*	Park-Ohio Holdings Corp		133
	3,411	*	Patriot Transportation Holding, Inc		95
	16,337	*	Quality Distribution, Inc		151
	16,300	*	RailAmerica, Inc		448
	13,497	*,e	Rand Logistics, Inc		102
	40,702	*	Republic Airways Holdings, Inc		188
	8,012	*	Roadrunner Transportation Services Holdings, Inc		130
	39,335		Ryder System, Inc		1,536
	12,063	*	Saia, Inc		243
	40,260		Skywest, Inc		416
	586,521		Southwest Airlines Co		5,144
	31,863	*	Spirit Airlines, Inc		544
	60,697	*	Swift Transportation Co, Inc		523
	254,115	*,e	UAL Corp		4,955
	363,389		Union Pacific Corp		43,133
	554,370		United Parcel Service, Inc (Class B)		39,676
	3,884		Universal Truckload Services, Inc		62
	126,271	*,e	US Airways Group, Inc		1,321
	81,226		UTI Worldwide, Inc		1,094
	33,067		Werner Enterprises, Inc		707
	15,800	*,e	Wesco Aircraft Holdings, Inc		216
	13,238	*,e	XPO Logistics, Inc		162
	20,515	*,e	Zipcar, Inc		160
			TOTAL TRANSPORTATION		209,456
UTILITIES - 3.5%
	489,737	*	AES Corp		5,371
	89,215		AGL Resources, Inc		3,650
	28,545		Allete, Inc		1,191
	85,307		Alliant Energy Corp		3,701
	183,716		Ameren Corp		6,002
	19,531	*,e	American DG Energy, Inc		51
	370,712		American Electric Power Co, Inc		16,289
	16,487		American States Water Co		733
	131,951		American Water Works Co, Inc		4,890
	104,679		Aqua America, Inc		2,592
	4,909		Artesian Resources Corp		114
	85,946	e	Atlantic Power Corp		1,286
	69,174		Atmos Energy Corp		2,476
	43,026		Avista Corp		1,107
	30,522		Black Hills Corp		1,086
	8,402	*,e	Cadiz, Inc		82
	35,650		California Water Service Group		665
	309,400	*	Calpine Corp		5,353
	321,488		Centerpoint Energy, Inc		6,848
	11,400		CH Energy Group, Inc		743
	8,826		Chesapeake Utilities Corp		418
	46,444		Cleco Corp		1,950

303

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

SHARES			COMPANY	VALUE (000)
	200,055		CMS Energy Corp	$	4,711
	6,221		Connecticut Water Service, Inc		198
	223,555		Consolidated Edison, Inc		13,389
	10,306		Consolidated Water Co, Inc		85
	5,331		Delta Natural Gas Co, Inc		103
	436,104		Dominion Resources, Inc		23,086
	130,057		DTE Energy Co		7,796
	537,271		Duke Energy Corp		34,814
	249,206		Edison International		11,386
	30,616		El Paso Electric Co		1,049
	33,239		Empire District Electric Co		716
	135,353		Entergy Corp		9,380
	653,553		Exelon Corp		23,253
	319,677		FirstEnergy Corp		14,098
	10,513		Genie Energy Ltd		75
	104,313		Great Plains Energy, Inc		2,322
	73,366		Hawaiian Electric Industries, Inc		1,930
	34,656		Idacorp, Inc		1,500
	59,780		Integrys Energy Group, Inc		3,121
	39,281		ITC Holdings Corp		2,969
	15,900		Laclede Group, Inc		684
	144,429		MDU Resources Group, Inc		3,183
	17,500		MGE Energy, Inc		927
	9,765		Middlesex Water Co		187
	55,740		National Fuel Gas Co		3,012
	31,721		New Jersey Resources Corp		1,450
	320,023		NextEra Energy, Inc		22,507
	217,329		NiSource, Inc		5,538
	239,290		Northeast Utilities		9,148
	20,412		Northwest Natural Gas Co		1,005
	27,832		NorthWestern Corp		1,008
	174,135		NRG Energy, Inc		3,725
	176,210		NV Energy, Inc		3,174
	75,923		OGE Energy Corp		4,211
	158,859		Oneok, Inc		7,675
	13,917	e	Ormat Technologies, Inc		261
	29,407		Otter Tail Corp		702
	168,153		Pepco Holdings, Inc		3,178
	322,404		PG&E Corp		13,757
	57,938		Piedmont Natural Gas Co, Inc		1,882
	83,775		Pinnacle West Capital Corp		4,423
	60,937		PNM Resources, Inc		1,282
	58,032		Portland General Electric Co		1,569
	446,494		PPL Corp		12,971
	387,317		Public Service Enterprise Group, Inc		12,464
	135,152		Questar Corp		2,748
	582,024	*	RRI Energy, Inc		1,473
	87,177		SCANA Corp		4,208
	184,398		Sempra Energy		11,892
	10,436		SJW Corp		265
	22,925		South Jersey Industries, Inc		1,213
	663,139		Southern Co		30,564

304

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

SHARES			COMPANY	VALUE (000)
	34,400		Southwest Gas Corp	$	1,520
	163,004		TECO Energy, Inc		2,892
	85,402		UGI Corp		2,712
	38,476		UIL Holdings Corp		1,380
	11,594		Unitil Corp		316
	27,775		UNS Energy Corp		1,163
	62,331		Vectren Corp		1,783
	89,565		Westar Energy, Inc		2,656
	38,842		WGL Holdings, Inc		1,563
	175,945		Wisconsin Energy Corp		6,628
	371,457		Xcel Energy, Inc		10,293
	9,006		York Water Co		165
			TOTAL UTILITIES		427,936
			TOTAL COMMON STOCKS		12,122,946
			(Cost $8,889,076)
RIGHTS / WARRANTS - 0.0%
ENERGY - 0.0%
	8,193	e,m	Magnum Hunter Resources Corp		0	^
			TOTAL ENERGY		0	^
PHARMACEUTICALS, BIOTECHNOLOGY & LIFE SCIENCES - 0.0%
	63,430		Allos Therapeutics, Inc		1
			TOTAL PHARMACEUTICALS, BIOTECHNOLOGY & LIFE SCIENCES		1
RETAILING - 0.0%
	7,109		Liberty Ventures		97
			TOTAL RETAILING		97
			TOTAL RIGHTS / WARRANTS		98
			(Cost $77)
SHORT-TERM INVESTMENTS - 2.6%
INVESTMENTS IN REGISTERED INVESTMENT COMPANIES - 2.6%
	318,805,648	a,c	TIAA-CREF Short Term Lending Portfolio of the State Street Navigator Securities Lending Trust		318,806
			TOTAL INVESTMENTS IN REGISTERED INVESTMENT COMPANIES		318,806
			TOTAL SHORT-TERM INVESTMENTS		318,806
			(Cost $318,806)
			TOTAL INVESTMENTS - 102.4% (Cost $9,207,959)		12,441,850
			OTHER ASSETS & LIABILITIES, NET - (2.4)%		(293,001	)
			NET ASSETS - 100.0%	$	12,148,849
			Abbreviation(s):
	REIT		Real Estate Investment Trust
	SPDR		Standard & Poor’s Depository Receipts
	*		Non-income producing.
	^		Amount represents less than $1,000.
	a		Affiliated holding.
	c		Investments made with cash collateral received from securites on loan.
	e		All or a portion of these securities are out on loan. The aggregate value of securities on loan is $308,648,000.
	m		Indicates a security that has been deemed illiquid.
			Cost amounts are in thousands.

305

COLLEGE RETIREMENT EQUITIES FUND - Bond Market Account

COLLEGE RETIREMENT EQUITIES FUND
BOND MARKET ACCOUNT
SCHEDULE OF INVESTMENTS (unaudited)
September 30, 2012

PRINCIPAL			ISSUER	RATE		MATURITY DATE		VALUE (000)
BANK LOAN OBLIGATIONS - 0.1%
CAPITAL GOODS - 0.1%
$	4,912,500	i	TransDigm, Inc	4.000	%	02/14/17	$	4,934
			TOTAL CAPITAL GOODS					4,934
HEALTH CARE EQUIPMENT & SERVICES - 0.1%
	5,053,707	i	Fresenius US Finance I, Inc, Term Loan D1	3.500		09/10/14		5,054
	1,817,062	i	Fresenius US Finance I, Inc, Term Loan D2	3.500		09/10/14		1,817
			TOTAL HEALTH CARE EQUIPMENT & SERVICES					6,871
UTILITIES - 0.0%
	200,000	h	Calpine Corp	4.500		09/27/19		201
			TOTAL UTILITIES					201
			TOTAL BANK LOAN OBLIGATIONS					12,006
			(Cost $11,984)
BONDS - 98.0%
CORPORATE BONDS - 33.4%
AUTOMOBILES & COMPONENTS - 0.1%
	4,500,000		Ford Motor Co	7.450		07/16/31		5,597
	4,500,000	g	Hyundai Motor Manufacturer	4.500		04/15/15		4,807
			TOTAL AUTOMOBILES & COMPONENTS					10,404
BANKS - 6.9%
	6,165,000	g	Abbey National Treasury Services plc	3.875		11/10/14		6,292
	3,875,000		Abbey National Treasury Services plc	4.000		04/27/16		4,030
	5,480,000	g	Akbank TAS	5.125		07/22/15		5,665
	4,500,000	g	Alfa Bond Issuance plc for OJSC Alfa Bank	7.875		09/25/17		4,850
	4,500,000	g	Alfa Bond Issuance plc for OJSC Alfa Bank	7.750		04/28/21		4,765
	4,750,000	g	Banco Bradesco S.A.	4.500		01/12/17		5,059
	2,850,000	g	Banco Davivienda S.A.	5.875		07/09/22		2,940
	5,395,000	g	Banco de Bogota S.A.	5.000		01/15/17		5,705
	7,500,000	g	Banco de Credito del Peru	5.375		09/16/20		8,062
	4,500,000		Banco de Oro Unibank, Inc	3.875		04/22/16		4,492
	2,700,000	g	Banco del Estado de Chile	3.875		02/08/22		2,860
	4,500,000	g	Banco do Brasil S.A.	5.875		01/26/22		4,815
	8,700,000		Bancolombia S.A.	5.125		09/11/22		8,787
	7,255,000		BanColombia S.A.	5.950		06/03/21		8,162
	11,786,000	g	Bank Nederlandse Gemeenten	1.375		09/27/17		11,844
	3,555,000		Bank of America Corp	4.875		01/15/13		3,596
	15,650,000		Bank of America Corp	3.625		03/17/16		16,505
	15,175,000		Bank of America Corp	3.750		07/12/16		16,100
	18,550,000		Bank of America Corp	5.300		03/15/17		20,599

306

COLLEGE RETIREMENT EQUITIES FUND - Bond Market Account

PRINCIPAL			ISSUER	RATE		MATURITY DATE		VALUE (000)
$	8,525,000		Bank of America Corp	6.000	%	09/01/17	$	9,861
	5,725,000		Bank of America Corp	5.750		12/01/17		6,587
	10,900,000		Bank of America Corp	5.875		02/07/42		12,741
	11,505,000	g	Bank of Montreal	2.850		06/09/15		12,226
	27,700,000	g	Bank of Montreal	2.625		01/25/16		29,523
	19,400,000	g	Bank of Nova Scotia	1.450		07/26/13		19,578
	50,520,000	g	Bank of Nova Scotia	1.650		10/29/15		52,172
	39,500,000	g	Bank of Nova Scotia	2.150		08/03/16		41,613
	5,850,000	g	Bank of Tokyo-Mitsubishi UFJ Ltd	2.350		02/23/17		6,075
	3,360,000	g	BBVA Banco Continental S.A.	5.000		08/26/22		3,452
	10,680,000	g	Caisse Centrale Desjardins du Quebec	2.550		03/24/16		11,356
	24,600,000	g	Caisse Centrale Desjardins du Quebec	1.600		03/06/17		25,363
	6,000,000	g	Canadian Imperial Bank of Commerce	2.000		02/04/13		6,036
	6,000,000	g	Canadian Imperial Bank of Commerce	2.600		07/02/15		6,343
	12,500,000	g	Canadian Imperial Bank of Commerce	2.750		01/27/16		13,380
	3,750,000		Capital One Bank USA NA	8.800		07/15/19		4,949
	5,000,000		Capital One Capital V	8.875		05/15/40		5,084
	8,075,000		Citigroup, Inc	6.000		12/13/13		8,564
	12,640,000		Citigroup, Inc	5.000		09/15/14		13,332
	6,400,000		Citigroup, Inc	2.250		08/07/15		6,498
	33,715,000		Citigroup, Inc	3.953		06/15/16		36,074
	17,225,000		Citigroup, Inc	4.450		01/10/17		18,920
	1,396,000		Citigroup, Inc	6.125		05/15/18		1,653
	5,100,000		Citigroup, Inc	5.375		08/09/20		5,896
	7,400,000		Citigroup, Inc	4.500		01/14/22		8,125
	12,200,000		Citigroup, Inc	5.875		01/30/42		14,698
	5,300,000		Cooperatieve Centrale Raiffeisen-Boerenleenbank BA	3.375		01/19/17		5,626
	5,950,000		Cooperatieve Centrale Raiffeisen-Boerenleenbank BA	3.875		02/08/22		6,315
	45,000,000	g	Depfa ACS Bank	5.125		03/16/37		33,528
	3,500,000		Deutsche Bank AG	3.875		08/18/14		3,677
	5,980,000		Discover Bank	7.000		04/15/20		7,203
	3,500,000		Golden West Financial Corp	4.750		10/01/12		3,500
	3,775,000	g	HSBC Bank plc	3.100		05/24/16		3,978
	7,350,000	g	HSBC Bank plc	4.125		08/12/20		8,094
	7,000,000		HSBC Bank USA NA	4.625		04/01/14		7,341
	3,000,000	g,i	HSBC Capital Funding LP	4.610		12/30/49		2,979
	5,250,000		HSBC Holdings plc	4.000		03/30/22		5,633
	2,100,000		HSBC Holdings plc	6.500		09/15/37		2,484
	11,275,000		HSBC USA, Inc	2.375		02/13/15		11,607
	5,590,000	g	ICICI Bank Ltd	5.500		03/25/15		5,890
	4,500,000	g	ICICI Bank Ltd	4.750		11/25/16		4,660
	2,595,000		JPMorgan Chase & Co	5.125		09/15/14		2,784
	7,220,000		JPMorgan Chase & Co	3.150		07/05/16		7,636
	13,500,000		JPMorgan Chase & Co	2.000		08/15/17		13,618
	32,975,000		JPMorgan Chase & Co	3.250		09/23/22		33,433
	3,025,000		JPMorgan Chase & Co	5.500		10/15/40		3,577
	9,125,000		JPMorgan Chase & Co	5.400		01/06/42		10,608
	3,000,000	g	Korea Exchange Bank	3.125		06/26/17		3,118
	4,250,000	i	Manufacturers & Traders Trust Co	5.629		12/01/21		4,232
	11,825,000	g	NIBC Bank NV	2.800		12/02/14		12,337
	7,800,000	g	Nordea Bank AB	4.250		09/21/22		7,752
	6,225,000	g	PKO Finance AB	4.630		09/26/22		6,244
	8,000,000		PNC Funding Corp	5.125		02/08/20		9,480

307

COLLEGE RETIREMENT EQUITIES FUND - Bond Market Account

PRINCIPAL			ISSUER	RATE		MATURITY DATE		VALUE (000)
$	4,250,000		PNC Funding Corp	3.300	%	03/08/22	$	4,555
	4,900,000	g,i	Rabobank Nederland NV	11.000		12/30/49		6,437
	7,550,000	g	State Bank of India	4.125		08/01/17		7,723
	2,355,000	g	Sumitomo Mitsui Banking Corp	3.150		07/22/15		2,477
	9,000,000	g	Toronto-Dominion Bank	2.200		07/29/15		9,422
	495,000		Toronto-Dominion Bank	2.500		07/14/16		523
	26,500,000	g	Toronto-Dominion Bank	1.625		09/14/16		27,396
	10,000,000		Toronto-Dominion Bank	2.375		10/19/16		10,518
	70,000,000	g	Toronto-Dominion Bank	1.500		03/13/17		71,981
	7,100,000		Union Bank NA	2.125		06/16/17		7,264
	2,000,000		Union Bank of California NA	5.950		05/11/16		2,285
	5,700,000		UnionBanCal Corp	3.500		06/18/22		6,028
	5,000,000		US Bancorp	4.950		10/30/14		5,426
	5,800,000		US Bancorp	1.650		05/15/17		5,938
	5,550,000		US Bancorp	2.950		07/15/22		5,603
	1,980,000		Wachovia Bank NA	4.800		11/01/14		2,129
	2,050,000		Wachovia Bank NA	5.850		02/01/37		2,578
	5,000,000		Wachovia Corp	4.875		02/15/14		5,267
	3,000,000		Wells Fargo & Co	4.375		01/31/13		3,040
	12,500,000		Wells Fargo & Co	1.500		07/01/15		12,710
	18,075,000		Wells Fargo & Co	2.100		05/08/17		18,700
	13,750,000		Wells Fargo & Co	3.500		03/08/22		14,664
	5,700,000		Westpac Banking Corp	3.000		08/04/15		6,017
			TOTAL BANKS					991,242
CAPITAL GOODS - 0.7%
	8,000,000		Caterpillar, Inc	1.375		05/27/14		8,118
	12,050,000		Caterpillar, Inc	1.500		06/26/17		12,304
	3,000,000	g	CC Holdings GS V LLC	7.750		05/01/17		3,203
	5,000,000		Danaher Corp	1.300		06/23/14		5,078
	4,150,000		Danaher Corp	2.300		06/23/16		4,368
	8,000,000		Deere & Co	2.600		06/08/22		8,211
	4,000,000		Emerson Electric Co	4.500		05/01/13		4,094
	3,300,000		General Electric Co	5.250		12/06/17		3,905
	4,500,000	g	Hyva Global BV	8.625		03/24/16		4,027
	4,245,000	g	Myriad International Holding BV	6.375		07/28/17		4,807
	8,000,000	g	Schneider Electric S.A.	2.950		09/27/22		8,078
	2,000,000		Seagate HDD Cayman	6.875		05/01/20		2,132
	4,850,000		Seagate HDD Cayman	7.000		11/01/21		5,190
	2,000,000		SPX Corp	6.875		09/01/17		2,235
	14,125,000		United Technologies Corp	1.200		06/01/15		14,379
	8,950,000		United Technologies Corp	1.800		06/01/17		9,283
	5,950,000		United Technologies Corp	4.500		06/01/42		6,669
			TOTAL CAPITAL GOODS					106,081
COMMERCIAL & PROFESSIONAL SERVICES - 0.6%
	6,775,000	g	ADT Corp	2.250		07/15/17		6,973
	5,675,000	g	ADT Corp	3.500		07/15/22		5,896
	1,750,000		Corrections Corp of America	7.750		06/01/17		1,877
	6,800,000		eBay, Inc	0.700		07/15/15		6,832
	10,300,000		eBay, Inc	1.350		07/15/17		10,423
	3,220,000	g	National Agricultural Cooperative Federation	4.250		01/28/16		3,456
	10,290,000		Republic Services, Inc	3.800		05/15/18		11,442

308

COLLEGE RETIREMENT EQUITIES FUND - Bond Market Account

PRINCIPAL			ISSUER	RATE		MATURITY DATE		VALUE (000)
$	5,375,000		Republic Services, Inc	3.550	%	06/01/22	$	5,650
	5,810,000		Republic Services, Inc	6.200		03/01/40		7,286
	5,000,000	g	Scientific Games International, Inc	6.250		09/01/20		5,025
	7,150,000		Waste Management, Inc	2.600		09/01/16		7,505
	9,040,000		Waste Management, Inc	6.125		11/30/39		11,386
			TOTAL COMMERCIAL & PROFESSIONAL SERVICES					83,751
CONSUMER DURABLES & APPAREL - 0.1%
	4,450,000		DR Horton, Inc	4.375		09/15/22		4,422
	3,000,000		Hanesbrands, Inc	8.000		12/15/16		3,315
	3,000,000		Phillips-Van Heusen Corp	7.375		05/15/20		3,390
	9,525,000		Rio Tinto Finance USA plc	2.875		08/21/22		9,483
			TOTAL CONSUMER DURABLES & APPAREL					20,610
CONSUMER SERVICES - 0.8%
	2,000,000		DineEquity, Inc	9.500		10/30/18		2,255
	11,850,000		GlaxoSmithKline Capital plc	1.500		05/08/17		12,055
	2,000,000		Penn National Gaming, Inc	8.750		08/15/19		2,240
	11,650,000	g	SABMiller Holdings, Inc	3.750		01/15/22		12,651
	8,650,000	g	SABMiller Holdings, Inc	4.950		01/15/42		10,066
	40,000,000		Stanford University	4.013		05/01/42		44,391
	3,675,000	g	Transnet SOC Ltd	4.000		07/26/22		3,736
	6,375,000		Walt Disney Co	4.500		12/15/13		6,691
	9,000,000		Walt Disney Co	0.875		12/01/14		9,094
			TOTAL CONSUMER SERVICES					103,179
DIVERSIFIED FINANCIALS - 6.1%
	1,500,000	g	Ajecorp BV	6.500		05/14/22		1,579
	2,000,000		American Express Centurion Bank	6.000		09/13/17		2,426
	17,175,000		American Express Credit Corp	1.750		06/12/15		17,568
	7,700,000		American Express Credit Corp	2.800		09/19/16		8,187
	4,500,000	g	Banco Mercantil del Norte S.A.	4.375		07/19/15		4,747
	9,000,000	g	Bangkok Bank PCL	2.750		03/27/18		9,017
	4,500,000	g	Bangkok Bank PCL	4.800		10/18/20		4,878
	10,780,000	g	Bangkok Bank PCL	3.875		09/27/22		10,769
	2,250,000		Bank of New York Mellon Corp	1.200		02/20/15		2,280
	12,975,000		Bank of New York Mellon Corp	2.300		07/28/16		13,599
	6,250,000		Bank of New York Mellon Corp	1.969		06/20/17		6,470
	4,125,000		Bank of New York Mellon Corp	5.450		05/15/19		4,902
	4,330,000	g	BBVA Bancomer S.A.	4.500		03/10/16		4,568
	9,075,000	g	BBVA Bancomer S.A.	6.750		09/30/22		9,914
	11,275,000		Berkshire Hathaway, Inc	1.900		01/31/17		11,674
	7,250,000		BlackRock, Inc	3.500		12/10/14		7,719
	15,000,000		BlackRock, Inc	1.375		06/01/15		15,283
	7,000,000		BlackRock, Inc	4.250		05/24/21		7,839
	5,700,000		BlackRock, Inc	3.375		06/01/22		6,037
	7,300,000		Capital One Financial Corp	3.150		07/15/16		7,752
	3,700,000		Countrywide Financial Corp	6.250		05/15/16		4,035
	6,850,000		Credit Suisse	5.000		05/15/13		7,033
	8,250,000		Credit Suisse	5.500		05/01/14		8,811
	3,000,000		Credit Suisse	3.500		03/23/15		3,171
	6,660,000		Ford Motor Credit Co LLC	4.250		02/03/17		7,078
	3,340,000		Ford Motor Credit Co LLC	6.625		08/15/17		3,874

309

COLLEGE RETIREMENT EQUITIES FUND - Bond Market Account

PRINCIPAL			ISSUER	RATE		MATURITY DATE		VALUE (000)
$	7,325,000		Ford Motor Credit Co LLC	5.000	%	05/15/18	$	7,997
	12,700,000		Ford Motor Credit Co LLC	4.250		09/20/22		13,014
	2,100,000		General Electric Capital Corp	2.800		01/08/13		2,113
	11,950,000		General Electric Capital Corp	1.875		09/16/13		12,119
	17,000,000		General Electric Capital Corp	1.625		07/02/15		17,297
	22,150,000		General Electric Capital Corp	2.300		04/27/17		22,769
	40,515,000		General Electric Capital Corp	4.650		10/17/21		45,408
	5,000,000		General Electric Capital Corp	6.150		08/07/37		6,127
	375,000		General Electric Capital Corp	6.875		01/10/39		501
	4,560,000	i	Goldman Sachs Capital II	4.000		06/01/43		3,434
	3,250,000		Goldman Sachs Group, Inc	5.450		11/01/12		3,263
	19,240,000		Goldman Sachs Group, Inc	3.300		05/03/15		20,021
	4,000,000		Goldman Sachs Group, Inc	6.150		04/01/18		4,669
	4,975,000		Goldman Sachs Group, Inc	7.500		02/15/19		6,170
	4,275,000		Goldman Sachs Group, Inc	5.750		01/24/22		4,924
	1,150,000		Goldman Sachs Group, Inc	6.450		05/01/36		1,205
	3,100,000		Goldman Sachs Group, Inc	6.750		10/01/37		3,321
	10,250,000		Goldman Sachs Group, Inc	6.250		02/01/41		11,859
	8,000,000	g	Grupo Aval Ltd	4.750		09/26/22		7,880
	8,465,000		HSBC Finance Corp	4.750		07/15/13		8,711
	9,599,000		HSBC Finance Corp	6.676		01/15/21		11,132
	1,440,000	g	Hyundai Capital America, Inc	3.750		04/06/16		1,532
	1,800,000	g	Hyundai Capital Services, Inc	4.375		07/27/16		1,940
	2,750,000	g	Hyundai Capital Services, Inc	3.500		09/13/17		2,876
	3,750,000	g	International Lease Finance Corp	6.500		09/01/14		4,031
	2,325,000		International Lease Finance Corp	8.625		09/15/15		2,648
	13,450,000		International Lease Finance Corp	5.750		05/15/16		14,260
	3,200,000		International Lease Finance Corp	5.875		04/01/19		3,393
	10,000,000		International Lease Finance Corp	5.875		08/15/22		10,331
	4,500,000	g	Inversiones CMPC S.A.	4.750		01/19/18		4,818
	5,050,000	g	Inversiones CMPC S.A.	4.500		04/25/22		5,246
	1,450,000		Jefferies Group, Inc	6.250		01/15/36		1,435
	22,650,000		John Deere Capital Corp	0.875		04/17/15		22,808
	7,500,000		John Deere Capital Corp	0.950		06/29/15		7,568
	14,600,000		John Deere Capital Corp	0.700		09/04/15		14,626
	7,440,000		John Deere Capital Corp	2.250		06/07/16		7,791
	1,500,000		John Deere Capital Corp	1.400		03/15/17		1,532
	7,550,000		John Deere Capital Corp	2.750		03/15/22		7,774
	18,750,000		KFW	2.625		01/25/22		19,745
	3,750,000		Korea Development Bank	3.000		09/14/22		3,754
	5,000,000		Landwirtschaftliche Rentenbank	5.125		02/01/17		5,903
	5,745,000	g	Lukoil International Finance BV	6.125		11/09/20		6,486
	4,500,000	g	Majapahit Holding BV	7.875		06/29/37		5,839
	4,000,000		MBNA Corp	6.125		03/01/13		4,088
	4,825,000		Merrill Lynch & Co, Inc	5.450		02/05/13		4,899
	4,675,000		Merrill Lynch & Co, Inc	6.400		08/28/17		5,439
	8,025,000		Merrill Lynch & Co, Inc	6.875		04/25/18		9,615
	9,150,000		Morgan Stanley	2.875		01/24/14		9,272
	3,925,000		Morgan Stanley	6.000		04/28/15		4,254
	17,100,000		Morgan Stanley	5.375		10/15/15		18,419
	7,250,000		Morgan Stanley	6.375		07/24/42		7,985
	2,625,000		NASDAQ OMX Group, Inc	5.550		01/15/20		2,824
	5,990,000		National Rural Utilities Cooperative Finance Corp	5.500		07/01/13		6,218

310

COLLEGE RETIREMENT EQUITIES FUND - Bond Market Account

PRINCIPAL			ISSUER	RATE		MATURITY DATE		VALUE (000)
$	3,800,000		National Rural Utilities Cooperative Finance Corp	10.375	%	11/01/18	$	5,623
	3,500,000	g	NongHyup Bank	2.250		09/19/17		3,498
	12,750,000		Northern Trust Corp	4.625		05/01/14		13,563
	6,615,000	g	Odebrecht Finance Ltd	5.125		06/26/22		7,045
	2,725,000	g	Odebrecht Finance Ltd	7.125		06/26/42		3,029
	9,100,000	g	Reliance Holdings USA	4.500		10/19/20		9,327
	24,000,000		Royal Bank of Canada	1.200		09/19/17		24,151
	3,100,000	g	Sberbank of Russia Via SB Capital S.A.	6.125		02/07/22		3,425
	6,350,000		State Street Corp	4.300		05/30/14		6,738
	60,000,000		Tagua Leasing LLC	1.900		07/12/24		61,034
	15,675,000	g	Temasek Financial I Ltd	2.375		01/23/23		15,658
	54,925,000		Toyota Motor Credit Corp	0.875		07/17/15		55,193
	7,650,000		Toyota Motor Credit Corp	2.050		01/12/17		7,955
	4,000,000		UBS AG.	2.250		01/28/14		4,063
	3,350,000	g	UBS AG.	1.875		01/23/15		3,419
	3,000,000		Unilever Capital Corp	4.800		02/15/19		3,542
	2,000,000		Unilever Capital Corp	4.250		02/10/21		2,347
	3,600,000	g	Waha Aerospace BV	3.925		07/28/20		3,870
			TOTAL DIVERSIFIED FINANCIALS					867,973
ENERGY - 3.3%
	7,950,000		Anadarko Petroleum Corp	5.950		09/15/16		9,212
	2,445,000		Anadarko Petroleum Corp	6.950		06/15/19		3,063
	2,145,000		Anadarko Petroleum Corp	6.450		09/15/36		2,658
	3,650,000		Apache Corp	1.750		04/15/17		3,769
	12,170,000		Apache Corp	4.750		04/15/43		13,906
	2,150,000	g	Ashland, Inc	4.750		08/15/22		2,198
	3,415,000		Baker Hughes, Inc	3.200		08/15/21		3,713
	21,565,000		BP Capital Markets plc	3.200		03/11/16		23,148
	12,950,000		BP Capital Markets plc	1.846		05/05/17		13,228
	5,000,000		BP Capital Markets plc	3.245		05/06/22		5,291
	3,690,000		Cimarex Energy Co	5.875		05/01/22		3,893
	1,000,000		Cloud Peak Energy Resources LLC	8.250		12/15/17		1,088
	2,000,000		Cloud Peak Energy Resources LLC	8.500		12/15/19		2,200
	2,250,000	g	CNOOC Finance 2012 Ltd	3.875		05/02/22		2,386
	9,725,000		ConocoPhillips	4.600		01/15/15		10,616
	7,600,000		ConocoPhillips	6.500		02/01/39		10,937
	2,075,000		Continental Resources, Inc	5.000		09/15/22		2,163
	1,825,000		Devon Energy Corp	1.875		05/15/17		1,860
	8,950,000		Devon Energy Corp	3.250		05/15/22		9,312
	6,800,000		Devon Energy Corp	5.600		07/15/41		8,068
	3,150,000		Devon Energy Corp	4.750		05/15/42		3,375
	3,601,800		Dolphin Energy Ltd	5.888		06/15/19		4,088
	5,300,000	g	Dolphin Energy Ltd	5.500		12/15/21		6,129
	4,500,000	g	Empresa Nacional del Petroleo	6.250		07/08/19		5,190
	3,448,000	g	Empresa Nacional del Petroleo	4.750		12/06/21		3,689
	3,250,000		Enbridge Energy Partners LP	5.200		03/15/20		3,716
	2,000,000		Encore Acquisition Co	9.500		05/01/16		2,170
	4,000,000		Enterprise Products Operating LLC	5.600		10/15/14		4,370
	1,150,000		Enterprise Products Operating LLC	5.000		03/01/15		1,259
	3,425,000		Enterprise Products Operating LLC	4.050		02/15/22		3,744
	3,545,000		Enterprise Products Operating LLC	6.125		10/15/39		4,261
	4,105,000		Enterprise Products Operating LLC	5.950		02/01/41		4,856

311

COLLEGE RETIREMENT EQUITIES FUND - Bond Market Account

PRINCIPAL			ISSUER	RATE		MATURITY DATE		VALUE (000)
$	1,750,000		Enterprise Products Operating LLC	5.700	%	02/15/42	$	2,022
	7,500,000		Enterprise Products Operating LLC	4.450		02/15/43		7,418
	2,325,000		EOG Resources, Inc	4.100		02/01/21		2,643
	4,000,000		Gaz Capital S.A.	6.212		11/22/16		4,445
	700,000		Gaz Capital S.A.	6.510		03/07/22		823
	2,200,000	g	Gazprom Neft OAO	4.375		09/19/22		2,189
	3,000,000	g	Gazprom OAO Via Gaz Capital S.A.	4.950		05/23/16		3,176
	3,600,000		Hess Corp	8.125		02/15/19		4,763
	1,075,000		Hess Corp	6.000		01/15/40		1,304
	4,625,000		Hess Corp	5.600		02/15/41		5,365
	2,000,000		Kaneb Pipe Line Operating Partnership LP	5.875		06/01/13		2,049
	1,610,000	g	Korea National Oil Corp	3.125		04/03/17		1,692
	5,530,000		Marathon Petroleum Corp	3.500		03/01/16		5,864
	1,000,000		MarkWest Energy Partners LP	6.750		11/01/20		1,083
	4,240,000		MarkWest Energy Partners LP	5.500		02/15/23		4,441
	2,525,000		Newfield Exploration Co	5.625		07/01/24		2,803
	2,475,000		Noble Holding International Ltd	3.450		08/01/15		2,618
	7,550,000		Noble Holding International Ltd	4.900		08/01/20		8,434
	4,570,000	g	Novatek Finance Ltd	6.604		02/03/21		5,341
	7,444,000		Occidental Petroleum Corp	1.500		02/15/18		7,576
	7,450,000		Occidental Petroleum Corp	4.100		02/01/21		8,591
	800,000		Pemex Project Funding Master Trust	5.750		03/01/18		937
	1,150,000		Pemex Project Funding Master Trust	6.625		06/15/35		1,443
	1,890,000		Pemex Project Funding Master Trust	6.625		06/15/38		2,372
	3,975,000	g	Pertamina Persero PT	4.875		05/03/22		4,278
	3,000,000	g	Pertamina PT	5.250		05/23/21		3,311
	2,080,000		Petrobras International Finance Co	3.875		01/27/16		2,200
	4,500,000		Petrobras International Finance Co	7.875		03/15/19		5,652
	4,450,000		Petrobras International Finance Co	6.875		01/20/40		5,571
	6,050,000		Petrobras International Finance Co-Pifco	3.500		02/06/17		6,327
	2,900,000		Petroleos Mexicanos	8.000		05/03/19		3,795
	2,500,000		Petroleos Mexicanos	6.000		03/05/20		2,988
	4,000,000		Petroleos Mexicanos	5.500		01/21/21		4,690
	5,560,000		Petroleos Mexicanos	4.875		01/24/22		6,283
	20,000,000		Petroleos Mexicanos	1.950		12/20/22		20,480
	10,700,000		Petroleos Mexicanos	2.000		12/20/22		10,984
	6,150,000		Petroleos Mexicanos	6.500		06/02/41		7,666
	2,250,000		Petroleos Mexicanos	5.500		06/27/44		2,475
	3,960,000	g	Petroleum Co of Trinidad & Tobago Ltd	9.750		08/14/19		5,089
	7,400,000	g	Phillips 66	1.950		03/05/15		7,572
	6,125,000	g	Phillips 66	4.300		04/01/22		6,706
	3,000,000		Plains All American Pipeline LP	5.625		12/15/13		3,177
	5,650,000		Plains All American Pipeline LP	3.650		06/01/22		5,998
	2,674,000		Precision Drilling Trust	6.625		11/15/20		2,848
	3,000,000	g	PTTEP Canada International Finance Ltd	5.692		04/05/21		3,459
	700,000		Range Resources Corp	7.250		05/01/18		740
	3,335,000		Range Resources Corp	5.000		08/15/22		3,518
	3,292,016		Ras Laffan Liquefied Natural Gas Co Ltd	5.298		09/30/20		3,704
	7,925,000	g	Schlumberger Investment S.A.	2.400		08/01/22		7,845
	6,250,000		Shell International Finance BV	3.100		06/28/15		6,681
	7,620,000		Shell International Finance BV	4.300		09/22/19		8,902
	1,925,000		Shell International Finance BV	6.375		12/15/38		2,772
	3,464,000		Southwestern Energy Co	7.500		02/01/18		4,176

312

COLLEGE RETIREMENT EQUITIES FUND - Bond Market Account

PRINCIPAL			ISSUER	RATE		MATURITY DATE		VALUE (000)
$	2,800,000		Statoil ASA	2.900	%	10/15/14	$	2,938
	6,100,000		Total Capital International S.A.	1.500		02/17/17		6,209
	2,175,000		TransCanada Pipelines Ltd	4.000		06/15/13		2,230
	3,400,000		TransCanada Pipelines Ltd	5.850		03/15/36		4,465
	2,750,000	i	TransCanada Pipelines Ltd	6.350		05/15/67		2,941
	2,000,000		Vale Overseas Ltd	5.625		09/15/19		2,250
	3,875,000		Vale Overseas Ltd	4.375		01/11/22		4,073
	2,760,000		Vale Overseas Ltd	6.875		11/21/36		3,196
	4,650,000		Vale Overseas Ltd	6.875		11/10/39		5,424
	3,375,000		Valero Energy Corp	4.500		02/01/15		3,637
	3,325,000		Weatherford International Ltd	4.500		04/15/22		3,477
	5,000,000		XTO Energy, Inc	6.250		04/15/13		5,148
	4,400,000		XTO Energy, Inc	4.625		06/15/13		4,523
			TOTAL ENERGY					479,346
FOOD & STAPLES RETAILING - 0.2%
	5,690,000		CVS Caremark Corp	3.250		05/18/15		6,050
	10,500,000		CVS Caremark Corp	5.750		06/01/17		12,664
	795,000		CVS Caremark Corp	6.600		03/15/19		1,016
	3,800,000		Delhaize Group S.A.	5.875		02/01/14		3,992
	1,500,000		Ingles Markets, Inc	8.875		05/15/17		1,616
	1,205,000		Kroger Co	5.000		04/15/13		1,231
	3,750,000		Safeway, Inc	3.400		12/01/16		3,926
	880,000		Stater Bros Holdings, Inc	7.750		04/15/15		899
	900,000		Stater Bros Holdings, Inc	7.375		11/15/18		970
			TOTAL FOOD & STAPLES RETAILING					32,364
FOOD, BEVERAGE & TOBACCO - 1.3%
	6,300,000		Anheuser-Busch InBev Worldwide, Inc	2.875		02/15/16		6,711
	10,575,000		Anheuser-Busch InBev Worldwide, Inc	1.375		07/15/17		10,704
	27,060,000		Anheuser-Busch InBev Worldwide, Inc	2.500		07/15/22		27,443
	6,950,000		Anheuser-Busch InBev Worldwide, Inc	3.750		07/15/42		6,967
	5,125,000	g	BRF-Brasil Foods S.A.	5.875		06/06/22		5,599
	4,500,000	g	CCL Finance Ltd	9.500		08/15/14		5,057
	6,150,000		Coca-Cola Co	0.750		03/13/15		6,204
	18,750,000		Coca-Cola Co	1.800		09/01/16		19,535
	7,200,000		Coca-Cola Co	3.150		11/15/20		7,853
	7,600,000		Coca-Cola Co	3.300		09/01/21		8,464
	1,600,000		Constellation Brands, Inc	4.625		03/01/23		1,632
	7,150,000		Diageo Capital plc	1.500		05/11/17		7,274
	4,080,000		General Mills, Inc	5.200		03/17/15		4,525
	5,525,000	g	Grupo Bimbo SAB de C.V.	4.500		01/25/22		5,966
	6,000,000		HJ Heinz Co	1.500		03/01/17		6,090
	2,530,000		Kraft Foods, Inc	6.125		02/01/18		3,089
	8,750,000		Kraft Foods, Inc	5.375		02/10/20		10,556
	8,105,000		Kraft Foods, Inc	6.500		02/09/40		10,978
	625,000		PepsiAmericas, Inc	4.375		02/15/14		657
	680,000		PepsiCo, Inc	7.900		11/01/18		922
	2,000,000	g	Pernod-Ricard S.A.	2.950		01/15/17		2,087
	9,475,000	g	Pernod-Ricard S.A.	4.450		01/15/22		10,446
	2,900,000		Philip Morris International, Inc	4.875		05/16/13		2,980
	7,425,000		Philip Morris International, Inc	6.875		03/17/14		8,112
	1,600,000		Philip Morris International, Inc	6.375		05/16/38		2,216
			TOTAL FOOD, BEVERAGE & TOBACCO					182,067

313

COLLEGE RETIREMENT EQUITIES FUND - Bond Market Account

PRINCIPAL			ISSUER	RATE		MATURITY DATE		VALUE (000)
HEALTH CARE EQUIPMENT & SERVICES - 0.6%
$	3,900,000		Becton Dickinson and Co	1.750	%	11/08/16	$	4,036
	3,750,000		Boston Scientific Corp	4.500		01/15/15		4,010
	7,150,000		Covidien International Finance S.A.	1.350		05/29/15		7,242
	3,800,000		Covidien International Finance S.A.	3.200		06/15/22		4,015
	4,500,000	g	Fresenius Medical Care Capital Trust	5.750		02/15/21		4,815
	4,000,000	g	Fresenius Medical Care II	5.625		07/31/19		4,260
	4,560,000		HCA, Inc	6.500		02/15/20		5,073
	9,575,000		HCA, Inc	5.875		03/15/22		10,377
	1,252,000		McKesson Corp	3.250		03/01/16		1,347
	5,000,000		Medtronic, Inc	4.750		09/15/15		5,597
	3,500,000		Quest Diagnostics, Inc	6.400		07/01/17		4,164
	6,225,000		Thermo Fisher Scientific, Inc	2.150		12/28/12		6,243
	1,695,000		Thermo Fisher Scientific, Inc	3.200		05/01/15		1,790
	1,750,000		Thermo Fisher Scientific, Inc	5.000		06/01/15		1,933
	12,280,000		Thermo Fisher Scientific, Inc	3.200		03/01/16		13,093
	6,125,000		Thermo Fisher Scientific, Inc	2.250		08/15/16		6,357
			TOTAL HEALTH CARE EQUIPMENT & SERVICES					84,352
HOUSEHOLD & PERSONAL PRODUCTS - 0.1%
	7,175,000		Clorox Co	3.800		11/15/21		7,702
	2,620,000		Colgate-Palmolive Co	2.300		05/03/22		2,654
	6,325,000		Ecolab, Inc	4.350		12/08/21		7,175
			TOTAL HOUSEHOLD & PERSONAL PRODUCTS					17,531
INSURANCE - 1.1%
	3,825,000		ACE INA Holdings, Inc	5.875		06/15/14		4,160
	2,155,000		Aetna, Inc	6.500		09/15/18		2,687
	1,925,000		Aetna, Inc	6.625		06/15/36		2,508
	5,375,000		Allstate Corp	7.450		05/16/19		7,036
	4,375,000		American Financial Group, Inc	9.875		06/15/19		5,503
	500,000		American International Group, Inc	3.650		01/15/14		515
	2,325,000		CHS	5.125		08/15/18		2,412
	3,750,000		Chubb Corp	6.000		05/11/37		5,079
	1,390,000		CIGNA Corp	5.125		06/15/20		1,604
	6,900,000		CIGNA Corp	4.500		03/15/21		7,664
	7,600,000		Hartford Financial Services Group, Inc	4.000		03/30/15		8,014
	4,500,000		Hartford Financial Services Group, Inc	4.000		10/15/17		4,837
	2,800,000		Lincoln National Corp	7.000		06/15/40		3,489
	5,620,000		Metlife, Inc	5.000		06/15/15		6,240
	7,675,000		Metlife, Inc	6.750		06/01/16		9,186
	4,500,000		Metlife, Inc	5.700		06/15/35		5,529
	6,500,000		Metlife, Inc	4.125		08/13/42		6,400
	5,500,000	g	Principal Life Global Funding I	5.125		10/15/13		5,743
	5,000,000		Progressive Corp	3.750		08/23/21		5,556
	2,000,000		Prudential Financial, Inc	3.875		01/14/15		2,124
	8,050,000		Prudential Financial, Inc	7.375		06/15/19		10,180
	5,000,000		Prudential Financial, Inc	6.625		06/21/40		6,241
	7,000,000		Prudential Financial, Inc	6.200		11/15/40		8,361
	3,650,000	i	Prudential Financial, Inc	5.875		09/15/42		3,741
	3,000,000	g	Prudential Funding LLC	6.750		09/15/23		3,649

314

COLLEGE RETIREMENT EQUITIES FUND - Bond Market Account

PRINCIPAL			ISSUER	RATE		MATURITY DATE		VALUE (000)
$	4,250,000		Travelers Cos, Inc	5.800	%	05/15/18	$	5,228
	1,500,000		Unum Group	5.625		09/15/20		1,677
	1,800,000		WellPoint, Inc	5.875		06/15/17		2,141
	6,750,000		WellPoint, Inc	3.125		05/15/22		6,738
	2,250,000		WellPoint, Inc	5.850		01/15/36		2,608
	7,850,000		WellPoint, Inc	4.625		05/15/42		7,924
	7,000,000		Willis Group Holdings plc	4.125		03/15/16		7,430
	2,400,000		WR Berkley Corp	5.375		09/15/20		2,642
			TOTAL INSURANCE					164,846
MATERIALS - 1.7%
	3,385,000		3M Co	4.375		08/15/13		3,508
	4,150,000		3M Co	5.700		03/15/37		5,713
	4,600,000		Air Products & Chemicals, Inc	4.150		02/01/13		4,658
	6,630,000		Air Products & Chemicals, Inc	4.375		08/21/19		7,621
	1,125,000		Airgas, Inc	4.500		09/15/14		1,198
	1,000,000		Airgas, Inc	7.125		10/01/18		1,079
	4,000,000	g	Anglo American Capital plc	2.625		04/03/17		4,046
	8,000,000	g	Anglo American Capital plc	2.625		09/27/17		8,027
	2,150,000	g	Anglo American Capital plc	4.450		09/27/20		2,255
	6,725,000		AngloGold Ashanti Holdings plc	5.125		08/01/22		6,848
	1,860,000		ArcelorMittal	4.000		08/05/15		1,848
	3,500,000		ArcelorMittal	4.750		02/25/17		3,433
	6,200,000		ArcelorMittal	6.500		02/25/22		6,107
	1,015,000		Ball Corp	7.125		09/01/16		1,099
	355,000		Ball Corp	7.375		09/01/19		396
	4,000,000		Ball Corp	5.750		05/15/21		4,310
	1,365,000		Ball Corp	5.000		03/15/22		1,430
	12,100,000		Barrick Gold Corp	3.850		04/01/22		12,702
	7,175,000		Barrick North America Finance LLC	4.400		05/30/21		7,806
	10,100,000	g	Braskem Finance Ltd	5.375		05/02/22		10,479
	3,000,000		Celanese US Holdings LLC	6.625		10/15/18		3,285
	2,000,000		CF Industries, Inc	6.875		05/01/18		2,432
	3,175,000		CF Industries, Inc	7.125		05/01/20		3,985
	2,900,000	g	Corp Nacional del Cobre de Chile	3.000		07/17/22		2,923
	1,030,000	g	Corp Nacional del Cobre de Chile	4.250		07/17/42		1,019
	2,400,000	g	Corp Nacional del Cobre de Chile-CODELCO	3.750		11/04/20		2,593
	5,100,000	g	Corp Nacional del Cobre de Chile-CODELCO	3.875		11/03/21		5,543
	2,770,000		Crown Americas LLC	6.250		02/01/21		3,088
	7,734,000		Dow Chemical Co	4.125		11/15/21		8,415
	1,000,000		Eastman Chemical Co	5.500		11/15/19		1,173
	5,500,000		EI Du Pont de Nemours & Co	3.250		01/15/15		5,842
	6,000,000		EI Du Pont de Nemours & Co	4.625		01/15/20		7,046
	3,315,000	g	Fufeng Group Ltd	7.625		04/13/16		3,017
	1,500,000		Graphic Packaging International, Inc	9.500		06/15/17		1,643
	1,400,000		Greif, Inc	7.750		08/01/19		1,617
	2,000,000		International Paper Co	4.750		02/15/22		2,271
	4,250,000		International Paper Co	7.300		11/15/39		5,626
	3,000,000		LyondellBasell Industries NV	5.000		04/15/19		3,187
	1,950,000		LyondellBasell Industries NV	6.000		11/15/21		2,223
	2,125,000	g	Mexichem SAB de C.V.	4.875		09/19/22		2,157
	7,650,000		Newmont Mining Corp	3.500		03/15/22		7,760
	3,825,000		Newmont Mining Corp	4.875		03/15/42		3,921

315

COLLEGE RETIREMENT EQUITIES FUND - Bond Market Account

PRINCIPAL			ISSUER	RATE		MATURITY DATE	VALUE (000)
$	5,050,000		Praxair, Inc	5.250	%	11/15/14	$	5,527
	7,350,000		Praxair, Inc	2.450		02/15/22		7,394
	7,500,000		Rio Tinto Finance USA Ltd	2.250		09/20/16		7,774
	3,000,000	g	Rock-Tenn Co	3.500		03/01/20		3,057
	3,000,000	g	Rock-Tenn Co	4.000		03/01/23		3,048
	5,000,000		Silgan Holdings, Inc	5.000		04/01/20		5,231
	3,140,000	g	Sociedad Quimica y Minera de Chile S.A.	5.500		04/21/20		3,545
	4,625,000		Teck Resources Ltd	2.500		02/01/18		4,645
	9,950,000		Teck Resources Ltd	3.750		02/01/23		9,843
	1,940,000		Teck Resources Ltd	6.000		08/15/40		2,044
	4,100,000		Teck Resources Ltd	5.200		03/01/42		3,856
	7,750,000		Teck Resources Ltd	5.400		02/01/43		7,562
	5,450,000	g	Xstrata Canada Financial Corp	4.950		11/15/21		5,839
			TOTAL MATERIALS					244,694
MEDIA - 1.4%
	1,000,000		AMC Entertainment, Inc	8.750		06/01/19		1,102
	3,850,000		CBS Corp	1.950		07/01/17		3,946
	1,960,000		CCO Holdings LLC	6.625		01/31/22		2,141
	1,388,000		Cinemark USA, Inc	8.625		06/15/19		1,541
	1,011,000		Comcast Cable Communications Holdings, Inc	8.375		03/15/13		1,047
	11,250,000		Comcast Corp	4.650		07/15/42		12,033
	7,000,000		DIRECTV Holdings LLC	2.400		03/15/17		7,187
	15,250,000		DIRECTV Holdings LLC	3.800		03/15/22		15,693
	4,700,000		DIRECTV Holdings LLC	5.150		03/15/42		4,782
	8,725,000		Discovery Communications LLC	3.300		05/15/22		9,063
	5,075,000		Discovery Communications LLC	4.950		05/15/42		5,529
	5,000,000		Grupo Televisa S.A.	6.000		05/15/18		5,934
	2,160,000		Lamar Media Corp	7.875		04/15/18		2,387
	1,850,000		Lamar Media Corp	5.875		02/01/22		1,970
	11,930,000		NBC Universal Media LLC	4.375		04/01/21		13,528
	12,500,000		NBC Universal Media LLC	2.875		01/15/23		12,477
	12,675,000		NBC Universal Media LLC	4.450		01/15/43		12,632
	1,274,000		News America, Inc	7.250		05/18/18		1,613
	2,105,000		News America, Inc	7.625		11/30/28		2,708
	1,578,000		News America, Inc	6.550		03/15/33		1,852
	3,575,000		News America, Inc	6.650		11/15/37		4,536
	3,800,000		News America, Inc	6.900		08/15/39		4,931
	3,315,000		Nielsen Finance LLC	7.750		10/15/18		3,738
	2,800,000	g,h	Nielsen Finance LLC	4.500		10/01/20		2,783
	2,100,000		Time Warner Cable, Inc	8.750		02/14/19		2,859
	9,675,000		Time Warner Cable, Inc	8.250		04/01/19		12,986
	9,850,000		Time Warner Cable, Inc	4.500		09/15/42		9,823
	3,000,000		Time Warner, Inc	3.150		07/15/15		3,202
	3,825,000		Time Warner, Inc	6.500		11/15/36		4,853
	5,000,000		Time Warner, Inc	5.375		10/15/41		5,691
	5,525,000		Time Warner, Inc	4.900		06/15/42		6,062
	4,850,000		Viacom, Inc	1.250		02/27/15		4,901
	5,400,000		Viacom, Inc	2.500		12/15/16		5,688
	3,000,000		Viacom, Inc	3.500		04/01/17		3,279
			TOTAL MEDIA					194,497

316

COLLEGE RETIREMENT EQUITIES FUND - Bond Market Account

PRINCIPAL			ISSUER	RATE		MATURITY DATE	VALUE (000)
PHARMACEUTICALS, BIOTECHNOLOGY & LIFE SCIENCES - 0.7%
$	3,975,000		Abbott Laboratories	5.300	%	05/27/40	$	5,139
	6,500,000	g	Aristotle Holding, Inc	2.100		02/12/15		6,668
	6,850,000	g	Aristotle Holding, Inc	3.900		02/15/22		7,463
	5,450,000		Johnson & Johnson	2.150		05/15/16		5,743
	4,000,000		Johnson & Johnson	5.850		07/15/38		5,668
	3,140,000		Life Technologies Corp	3.500		01/15/16		3,305
	4,115,000		Mead Johnson Nutrition Co	4.900		11/01/19		4,696
	2,750,000		Mead Johnson Nutrition Co	5.900		11/01/39		3,391
	7,750,000		Merck & Co, Inc	3.875		01/15/21		8,831
	2,150,000		Merck & Co, Inc	3.600		09/15/42		2,159
	1,750,000		NBTY, Inc	9.000		10/01/18		1,947
	3,750,000		Novartis Capital Corp	4.125		02/10/14		3,937
	15,775,000		Novartis Capital Corp	2.900		04/24/15		16,753
	2,750,000		Novartis Capital Corp	3.700		09/21/42		2,843
	8,750,000		Sanofi-Aventis S.A.	2.625		03/29/16		9,260
	3,225,000		Schering-Plough Corp	6.550		09/15/37		4,772
	3,450,000		Watson Pharmaceuticals, Inc	1.875		10/01/17		3,488
	5,700,000		Watson Pharmaceuticals, Inc	3.250		10/01/22		5,773
			TOTAL PHARMACEUTICALS, BIOTECHNOLOGY & LIFE SCIENCES					101,836
REAL ESTATE - 0.7%
	1,485,000		AMB Property LP	7.625		08/15/14		1,630
	2,310,000		AMB Property LP	4.500		08/15/17		2,486
	3,750,000		Boston Properties LP	3.850		02/01/23		3,950
	2,000,000		Brandywine Operating Partnership LP	5.400		11/01/14		2,142
	1,525,000		Brandywine Operating Partnership LP	7.500		05/15/15		1,725
	7,000,000		Brandywine Operating Partnership LP	4.950		04/15/18		7,520
	3,965,000		Camden Property Trust	4.625		06/15/21		4,451
	6,800,000		Developers Diversified Realty Corp	4.750		04/15/18		7,545
	3,460,000		Developers Diversified Realty Corp	7.875		09/01/20		4,460
	3,800,000		Duke Realty LP	3.875		10/15/22		3,864
	255,000		Federal Realty Investment Trust	5.650		06/01/16		288
	700,000		Federal Realty Investment Trust	5.900		04/01/20		833
	2,225,000		Federal Realty Investment Trust	3.000		08/01/22		2,214
	6,450,000		Health Care REIT, Inc	3.625		03/15/16		6,808
	4,700,000		Health Care REIT, Inc	4.125		04/01/19		5,004
	2,775,000		Healthcare Realty Trust, Inc	5.750		01/15/21		3,055
	1,600,000		Highwoods Properties, Inc	5.850		03/15/17		1,756
	1,400,000		Host Hotels & Resorts LP	4.750		03/01/23		1,451
	1,925,000		Kilroy Realty Corp	5.000		11/03/15		2,090
	3,250,000		Kilroy Realty LP	4.800		07/15/18		3,592
	4,000,000		National Retail Properties, Inc	5.500		07/15/21		4,542
	1,700,000		National Retail Properties, Inc	3.800		10/15/22		1,734
	900,000		Nationwide Health Properties, Inc	6.250		02/01/13		917
	2,325,000		Regency Centers LP	5.250		08/01/15		2,535
	225,000		Regency Centers LP	5.875		06/15/17		260
	800,000		Simon Property Group LP	5.250		12/01/16		917
	4,150,000		Simon Property Group LP	2.800		01/30/17		4,369
	3,040,000		Simon Property Group LP	10.350		04/01/19		4,375
	6,900,000		Simon Property Group LP	3.375		03/15/22		7,245
	1,750,000	g,i	USB Realty Corp	1.602		12/30/49		1,453
	1,360,000		Ventas Realty LP	3.125		11/30/15		1,417
	3,750,000		Ventas Realty LP	4.000		04/30/19		4,006
	1,850,000		Ventas Realty LP	4.250		03/01/22		1,967
			TOTAL REAL ESTATE					102,601

317

COLLEGE RETIREMENT EQUITIES FUND - Bond Market Account

PRINCIPAL			ISSUER	RATE		MATURITY DATE	VALUE (000)
RETAILING - 0.6%
$	3,000,000		AmeriGas Partners LP	6.250	%	08/20/19	$	3,120
	2,000,000		Asbury Automotive Group, Inc	7.625		03/15/17		2,070
	2,500,000		AutoNation, Inc	5.500		02/01/20		2,669
	3,900,000		Home Depot, Inc	4.400		04/01/21		4,612
	3,150,000		Limited Brands, Inc	7.000		05/01/20		3,575
	3,855,000		Limited Brands, Inc	5.625		02/15/22		4,154
	15,062,000		Macy’s Retail Holdings, Inc	5.900		12/01/16		17,585
	6,750,000		Macy’s Retail Holdings, Inc	3.875		01/15/22		7,277
	4,565,000		O’Reilly Automotive, Inc	4.625		09/15/21		4,977
	1,050,000		O’Reilly Automotive, Inc	3.800		09/01/22		1,088
	3,000,000	g	QVC, Inc	7.125		04/15/17		3,166
	2,000,000	g	QVC, Inc	7.500		10/01/19		2,213
	2,475,000	g	QVC, Inc	5.125		07/02/22		2,621
	875,000		Wal-Mart Stores, Inc	3.000		02/03/14		905
	3,450,000		Wal-Mart Stores, Inc	3.250		10/25/20		3,795
	3,675,000		Wal-Mart Stores, Inc	5.000		10/25/40		4,456
	12,000,000		Wal-Mart Stores, Inc	5.625		04/15/41		16,008
			TOTAL RETAILING					84,291
SOFTWARE & SERVICES - 1.0%
	5,000,000		Fidelity National Information Services, Inc	5.000		03/15/22		5,162
	14,200,000		International Business Machines Corp	0.550		02/06/15		14,237
	88,000,000		International Business Machines Corp	0.750		05/11/15		88,573
	4,030,000		International Business Machines Corp	1.950		07/22/16		4,209
	9,050,000		International Business Machines Corp	1.250		02/06/17		9,199
	3,655,000		Microsoft Corp	0.875		09/27/13		3,679
	8,825,000		Microsoft Corp	1.625		09/25/15		9,156
	3,925,000		Oracle Corp	3.750		07/08/14		4,157
	3,100,000		Oracle Corp	5.750		04/15/18		3,847
	3,750,000		Oracle Corp	3.875		07/15/20		4,293
	1,000,000		SunGard Data Systems, Inc	7.375		11/15/18		1,072
			TOTAL SOFTWARE & SERVICES					147,584
TECHNOLOGY HARDWARE & EQUIPMENT - 0.3%
	4,000,000		Amphenol Corp	4.750		11/15/14		4,292
	1,000,000		Brocade Communications Systems, Inc	6.875		01/15/20		1,080
	5,250,000		Hewlett-Packard Co	2.350		03/15/15		5,350
	14,000,000		International Business Machines Corp	1.875		08/01/22		13,628
	3,500,000		Jabil Circuit, Inc	5.625		12/15/20		3,745
	1,080,000		L-3 Communications Corp	6.375		10/15/15		1,092
	2,000,000		L-3 Communications Corp	4.950		02/15/21		2,229
	3,600,000		Xerox Corp	8.250		05/15/14		3,993
	10,275,000		Xerox Corp	4.500		05/15/21		10,918
			TOTAL TECHNOLOGY HARDWARE & EQUIPMENT					46,327
TELECOMMUNICATION SERVICES - 1.6%
	2,870,000		America Movil SAB de C.V.	2.375		09/08/16		2,986
	6,310,000		America Movil SAB de C.V.	5.000		03/30/20		7,388
	10,400,000		America Movil SAB de C.V.	3.125		07/16/22		10,717

318

COLLEGE RETIREMENT EQUITIES FUND - Bond Market Account

PRINCIPAL			ISSUER	RATE		MATURITY DATE	VALUE (000)
$	5,825,000		America Movil SAB de C.V.	4.375	%	07/16/42	$	6,041
	3,575,000		American Tower Corp	4.700		03/15/22		3,922
	2,500,000		AT&T, Inc	2.500		08/15/15		2,627
	20,750,000		AT&T, Inc	2.950		05/15/16		22,297
	5,000,000		AT&T, Inc	3.000		02/15/22		5,286
	2,000,000		AT&T, Inc	6.150		09/15/34		2,544
	11,500,000		AT&T, Inc	6.300		01/15/38		15,096
	4,500,000		Axiata SPV1 (Labuan) Ltd	5.375		04/28/20		5,043
	13,125,000		BellSouth Corp	5.200		09/15/14		14,256
	1,975,000		BellSouth Corp	6.550		06/15/34		2,387
	13,850,000		Cellco Partnership	8.500		11/15/18		19,405
	4,000,000	g	Deutsche Telekom International Finance BV	2.250		03/06/17		4,091
	4,000,000		Deutsche Telekom International Finance BV	8.750		06/15/30		6,016
	3,625,000	g	Deutsche Telekom International Finance BV	4.875		03/06/42		3,897
	3,100,000	g	Globo Comunicacao e Participacoes S.A.	4.875		04/11/22		3,360
	12,070,000	g	Oi S.A.	5.750		02/10/22		12,643
	3,000,000		Qwest Communications International, Inc	7.125		04/01/18		3,184
	1,225,000		Sprint Nextel Corp	6.000		12/01/16		1,262
	3,075,000		Telecom Italia Capital S.A.	6.175		06/18/14		3,236
	4,825,000		Telecom Italia Capital S.A.	6.999		06/04/18		5,320
	4,275,000		Telecom Italia Capital S.A.	7.175		06/18/19		4,713
	11,100,000		Telefonica Emisiones SAU	3.992		02/16/16		11,045
	3,775,000		Telefonica Emisiones SAU	5.462		02/16/21		3,700
	4,500,000		Telefonos de Mexico SAB de C.V.	5.500		11/15/19		5,331
	5,125,000		Verizon Communications, Inc	5.250		04/15/13		5,258
	1,250,000		Verizon Communications, Inc	6.100		04/15/18		1,562
	2,905,000		Verizon Communications, Inc	8.750		11/01/18		4,056
	3,100,000		Verizon Communications, Inc	8.950		03/01/39		5,402
	6,500,000		Verizon Virginia, Inc	4.625		03/15/13		6,620
	4,500,000	g	Vimpelcom Holdings	7.504		03/01/22		4,719
	1,862,000		Virgin Media Finance plc	9.500		08/15/16		2,062
	5,000,000		Virgin Media Finance plc	5.250		02/15/22		5,250
	5,400,000		Virgin Media Secured Finance plc	5.250		01/15/21		6,265
	735,000		Windstream Corp	8.125		09/01/18		794
			TOTAL TELECOMMUNICATION SERVICES					229,781
TRANSPORTATION - 0.7%
	5,730,000	g	Asciano Finance	5.000		04/07/18		6,154
	1,800,000	g	Asciano Finance Ltd	3.125		09/23/15		1,826
	2,840,000		Bristow Group, Inc	7.500		09/15/17		2,958
	5,000,000		Burlington Northern Santa Fe LLC	3.450		09/15/21		5,350
	7,650,000		Burlington Northern Santa Fe LLC	3.050		03/15/22		7,907
	3,475,000		Burlington Northern Santa Fe LLC	5.050		03/01/41		4,016
	4,325,000		Burlington Northern Santa Fe LLC	4.400		03/15/42		4,570
	5,750,000	g	DP World Ltd	6.850		07/02/37		6,196
	2,325,000		Embraer Overseas Ltd	6.375		01/15/20		2,662
	5,650,000	g	Kazakhstan Temir Zholy Finance BV	6.375		10/06/20		6,772
	2,500,000		Norfolk Southern Corp	5.750		01/15/16		2,870
	2,800,000		Norfolk Southern Corp	5.750		04/01/18		3,369
	6,750,000		Norfolk Southern Corp	3.000		04/01/22		7,006
	1,833,000	g	Norfolk Southern Corp	2.903		02/15/23		1,860
	391,000		Norfolk Southern Corp	5.590		05/17/25		484
	3,500,000	g	Transnet Ltd	4.500		02/10/16		3,718

319

COLLEGE RETIREMENT EQUITIES FUND - Bond Market Account

PRINCIPAL			ISSUER	RATE		MATURITY DATE	VALUE (000)
$	5,578,000		Union Pacific Corp	4.163	%	07/15/22	$	6,357
	5,500,000		Union Pacific Corp	4.750		09/15/41		6,201
	7,750,000		United Parcel Service, Inc	3.125		01/15/21		8,365
	4,900,000		United Parcel Service, Inc	3.625		10/01/42		4,953
			TOTAL TRANSPORTATION					93,594
UTILITIES - 2.8%
	3,630,000	g	Abu Dhabi National Energy Co	5.875		12/13/21		4,197
	2,500,000		AES Corp	7.750		03/01/14		2,688
	4,300,000		AES El Salvador Trust	6.750		02/01/16		4,322
	2,250,000		AGL Capital Corp	5.250		08/15/19		2,649
	2,000,000		AGL Capital Corp	6.000		10/01/34		2,600
	8,435,000		Alliant Energy Corp	4.000		10/15/14		8,840
	1,667,000		Arizona Public Service Co	5.050		09/01/41		1,929
	5,500,000		Atmos Energy Corp	8.500		03/15/19		7,343
	2,000,000	g	Calpine Corp	7.500		02/15/21		2,160
	4,500,000		Carolina Power & Light Co	5.125		09/15/13		4,700
	4,750,000		Carolina Power & Light Co	5.300		01/15/19		5,737
	2,750,000		Carolina Power & Light Co	5.700		04/01/35		3,408
	3,670,000		CenterPoint Energy Resources Corp	4.500		01/15/21		4,161
	3,550,000		CenterPoint Energy Resources Corp	6.250		02/01/37		4,578
	4,500,000	g	Centrais Eletricas Brasileiras S.A.	5.750		10/27/21		5,006
	7,000,000	g	CEZ AS.	4.250		04/03/22		7,453
	4,630,000	g	CEZ AS.	5.625		04/03/42		5,157
	3,075,000	g	China Resources Gas Group Ltd	4.500		04/05/22		3,334
	2,500,000		CMS Energy Corp	5.050		02/15/18		2,810
	2,500,000	g	Colbun S.A.	6.000		01/21/20		2,807
	5,860,000	g	Comision Federal de Electricidad	4.875		05/26/21		6,549
	2,075,000	g	Comision Federal de Electricidad	5.750		02/14/42		2,308
	3,055,000		Commonwealth Edison Co	4.000		08/01/20		3,466
	4,200,000		Commonwealth Edison Co	5.900		03/15/36		5,509
	2,750,000		Connecticut Light & Power Co	5.500		02/01/19		3,304
	3,500,000		Consolidated Edison Co of New York, Inc	5.700		06/15/40		4,658
	4,250,000		Consolidated Natural Gas Co	5.000		12/01/14		4,599
	3,750,000		Detroit Edison Co	3.950		06/15/42		3,914
	4,000,000		Dominion Resources, Inc	4.050		09/15/42		4,115
	7,150,000		Duke Energy Carolinas LLC	5.750		11/15/13		7,564
	1,400,000		Duke Energy Carolinas LLC	4.300		06/15/20		1,614
	2,000,000		Florida Power Corp	6.400		06/15/38		2,752
	3,500,000		FPL Group Capital, Inc	2.600		09/01/15		3,629
	3,000,000		Georgia Power Co	5.400		06/01/40		3,690
	2,000,000		Georgia Power Co	4.300		03/15/42		2,133
	5,000,000		Indiana Michigan Power Co	7.000		03/15/19		6,236
	3,855,000	g	Instituto Costarricense de Electricidad	6.950		11/10/21		4,279
	2,725,000		Integrys Energy Group, Inc	4.170		11/01/20		2,975
	3,350,000	g	Israel Electric Corp Ltd	6.700		02/10/17		3,618
	1,000,000	g	Kansas Gas & Electric	6.700		06/15/19		1,276
	3,650,000		Kinder Morgan Energy Partners LP	3.500		03/01/16		3,913
	2,825,000		Kinder Morgan Energy Partners LP	9.000		02/01/19		3,746
	8,430,000	g	KMG Finance Sub BV	6.375		04/09/21		10,121
	1,850,000	g	Korea Hydro & Nuclear Power Co Ltd	3.125		09/16/15		1,934
	7,150,000	g	Korea Hydro & Nuclear Power Co Ltd	4.750		07/13/21		8,117
	3,280,000	g	Korea Hydro & Nuclear Power Co Ltd	3.000		09/19/22		3,256

320

COLLEGE RETIREMENT EQUITIES FUND - Bond Market Account

PRINCIPAL			ISSUER	RATE		MATURITY DATE	VALUE (000)
$	5,000,000		LG&E and KU Energy LLC	3.750	%	11/15/20	$	5,200
	5,950,000		Midamerican Energy Holdings Co	5.950		05/15/37		7,457
	4,000,000		National Fuel Gas Co	5.250		03/01/13		4,072
	2,800,000		Nevada Power Co	6.500		08/01/18		3,567
	3,500,000		Nevada Power Co	6.650		04/01/36		4,827
	3,335,000		Nevada Power Co	5.450		05/15/41		4,144
	2,850,000		Oncor Electric Delivery Co LLC	5.250		09/30/40		3,039
	8,400,000		Oncor Electric Delivery Co LLC	4.550		12/01/41		8,180
	4,850,000		ONEOK Partners LP	3.375		10/01/22		4,874
	5,250,000		Pacific Gas & Electric Co	8.250		10/15/18		7,210
	3,500,000		Pacific Gas & Electric Co	4.450		04/15/42		3,825
	2,750,000		PacifiCorp	6.000		01/15/39		3,713
	4,825,000		Pepco Holdings, Inc	2.700		10/01/15		5,016
	8,050,000	g	Perusahaan Listrik Negara PT	5.500		11/22/21		9,006
	6,750,000		PG&E Corp	5.750		04/01/14		7,231
	750,000		Potomac Electric Power Co	7.900		12/15/38		1,228
	6,925,000		PPL Capital Funding, Inc	4.200		06/15/22		7,381
	2,000,000		PPL Electric Utilities Corp	3.000		09/15/21		2,120
	1,750,000		PPL Electric Utilities Corp	5.200		07/15/41		2,189
	3,825,000		Progress Energy, Inc	7.050		03/15/19		4,846
	2,000,000		Public Service Co of Colorado	7.875		10/01/12		2,000
	4,625,000		Public Service Co of Colorado	3.200		11/15/20		5,062
	8,800,000		Public Service Co of Oklahoma	5.150		12/01/19		10,234
	2,640,000		Public Service Electric & Gas Co	5.300		05/01/18		3,195
	5,000,000		Public Service Electric & Gas Co	3.500		08/15/20		5,510
	2,940,000		QEP Resources, Inc	5.375		10/01/22		3,043
	1,250,000		Questar Market Resources, Inc	6.875		03/01/21		1,412
	2,000,000		Sabine Pass LNG LP	7.250		11/30/13		2,130
	4,275,000		San Diego Gas & Electric Co	3.000		08/15/21		4,571
	3,100,000		San Diego Gas & Electric Co	3.950		11/15/41		3,297
	3,000,000		Sempra Energy	2.300		04/01/17		3,140
	4,000,000		Sempra Energy	6.000		10/15/39		5,183
	2,000,000		Spectra Energy Capital LLC	6.250		02/15/13		2,040
	2,325,000		Tampa Electric Co	4.100		06/15/42		2,420
	2,600,000		Veolia Environnement	5.250		06/03/13		2,664
	4,500,000		Virginia Electric and Power Co	4.750		03/01/13		4,581
	3,680,000		Virginia Electric and Power Co	2.950		01/15/22		3,899
	3,000,000		Williams Partners LP	3.800		02/15/15		3,181
	5,075,000		Williams Partners LP	4.000		11/15/21		5,462
	8,300,000		Williams Partners LP	3.350		08/15/22		8,484
	6,200,000		Williams Partners LP	6.300		04/15/40		7,761
	14,000,000	g	Wpd Investment Holdings Ltd	3.900		05/01/16		14,734
	4,000,000		Xcel Energy, Inc	4.800		09/15/41		4,609
			TOTAL UTILITIES					402,891
			TOTAL CORPORATE BONDS					4,791,842
			(Cost $4,463,788)
GOVERNMENT BONDS - 60.0%
AGENCY SECURITIES - 5.1%
	19,641,824		AMAL Ltd	3.465		08/21/21		21,375
	4,682,033		Cal Dive I- Title XI, Inc	4.930		02/01/27		5,460

321

COLLEGE RETIREMENT EQUITIES FUND - Bond Market Account

PRINCIPAL			ISSUER	RATE		MATURITY DATE	VALUE (000)
$	35,000,000		Citigroup Funding, Inc	1.875	%	10/22/12	$	35,033
	12,000,000		Citigroup Funding, Inc	2.250		12/10/12		12,048
	26,000,000	g,j	FDIC Structured Sale Guarantee (FDIC)	0.000		10/25/12		25,999
	9,750,000		Federal Farm Credit Bank (FFCB)	1.375		06/25/13		9,839
	15,000,000		Federal Home Loan Bank (FHLB)	1.875		06/21/13		15,182
	55,000,000		Federal Home Loan Mortgage Corp (FHLMC)	0.750		03/28/13		55,154
	20,000,000		FHLMC	3.000		07/28/14		20,963
	9,755		FHLMC	5.750		12/15/18		10
	10,000,000		Federal National Mortgage Association (FNMA)	3.625		02/12/13		10,125
	19,600,000		FNMA	1.250		08/20/13		19,775
	24,500,000		FNMA	2.750		02/05/14		25,347
	23,500,000		FNMA	3.000		09/16/14		24,768
	35,000,000		FNMA	2.625		11/20/14		36,747
	7,000,000		General Electric Capital Corp	2.625		12/28/12		7,043
	54,875,000		GMAC, Inc	1.750		10/30/12		54,943
	21,800,000		GMAC, Inc	2.200		12/19/12		21,896
	30,000,000		Lutheran Medical Center	1.982		02/20/30		29,700
	2,103,685		National Credit Union Administration	1.840		10/07/20		2,140
	996,680		Overseas Private Investment Corp	3.420		01/15/15		1,020
	19,088,610		Premier Aircraft Leasing	3.576		02/06/22		20,945
	25,000,000		Private Export Funding Corp (PEFCO)	3.550		04/15/13		25,453
	10,000,000		PEFCO	3.050		10/15/14		10,530
	7,000,000		PEFCO	4.550		05/15/15		7,764
	15,000,000		PEFCO	2.125		07/15/16		15,830
	50,000,000		PEFCO	1.375		02/15/17		51,025
	17,000,000		PEFCO	5.450		09/15/17		20,735
	10,000,000		PEFCO	2.250		12/15/17		10,684
	5,000,000		PEFCO	4.375		03/15/19		6,010
	17,300,000		PEFCO	1.450		08/15/19		17,445
	35,000,000		PEFCO	4.300		12/15/21		42,033
	3,152,344		Totem Ocean Trailer Express, Inc	4.514		12/18/19		3,427
	62,753,000		Tunisia Government AID Bonds	1.686		07/16/19		62,517
	3,000,000		US Department of Housing and Urban Development	5.380		08/01/18		3,510
			TOTAL AGENCY SECURITIES					732,475
FOREIGN GOVERNMENT BONDS - 5.5%
	4,300,000	g	Barbados Government International Bond	7.000		08/04/22		4,354
	4,210,000		Brazilian Government International Bond	5.875		01/15/19		5,241
	12,024,000		Brazilian Government International Bond	4.875		01/22/21		14,369
	825,000		Brazilian Government International Bond	7.125		01/20/37		1,244
	4,500,000		Brazilian Government International Bond	5.625		01/07/41		5,760
	12,200,000		Canada Government International Bond	2.375		09/10/14		12,700
	25,275,000		Canada Government International Bond	0.875		02/14/17		25,568
	3,630,000		Chile Government International Bond	3.875		08/05/20		4,111
	2,675,000		Colombia Government International Bond	4.375		07/12/21		3,080
	4,500,000		Colombia Government International Bond	6.125		01/18/41		6,098
	3,350,000	g	Croatia Government International Bond	6.375		03/24/21		3,716
	2,350,000	g	Democratic Socialist Republic of Sri Lanka	7.400		01/22/15		2,550
	5,208,000		Eksportfinans ASA	2.000		09/15/15		4,869
	4,000,000	g	El Salvador Government International Bond	7.625		02/01/41		4,460
	5,690,000	g	Eskom Holdings Ltd	5.750		01/26/21		6,487
	32,500,000		European Investment Bank	1.125		04/15/15		33,004
	3,500,000		European Investment Bank	4.875		02/15/36		4,154

322

COLLEGE RETIREMENT EQUITIES FUND - Bond Market Account

PRINCIPAL			ISSUER	RATE		MATURITY DATE	VALUE (000)
$	15,350,000		Export Development Canada	2.250	%	05/28/15	$	16,131
	1,900,000		Export-Import Bank of Korea	5.125		06/29/20		2,222
	4,200,000		Export-Import Bank of Korea	4.375		09/15/21		4,707
	3,000,000		Federative Republic of Brazil	6.000		01/17/17		3,581
	800,000	g	Guatemala Government Bond	5.750		06/06/22		888
	2,810,000		Hungary Government International Bond	6.375		03/29/21		3,060
	40,200,000		Hydro Quebec	1.375		06/19/17		40,791
	1,660,000	g	Indonesia Government International Bond	3.750		04/25/22		1,755
	10,075,000		Israel Government International Bond	4.000		06/30/22		10,700
	4,400,000		Italy Government International Bond	5.375		06/12/17		4,610
	1,610,000		Italy Government International Bond	6.875		09/27/23		1,777
	15,230,000	g	Kommunalbanken AS.	1.375		06/08/17		15,518
	3,670,000	g	Korea Housing Finance Corp	3.500		12/15/16		3,896
	5,000,000	g	Lithuania Government International Bond	5.125		09/14/17		5,575
	3,060,000	g	Lithuania Government International Bond	6.625		02/01/22		3,794
	1,000,000		Mexico Government International Bond	5.625		01/15/17		1,169
	4,500,000		Mexico Government International Bond	3.625		03/15/22		4,907
	2,900,000		Mexico Government International Bond	6.750		09/27/34		4,130
	5,000,000		Mexico Government International Bond	6.050		01/11/40		6,663
	4,000,000		Mexico Government International Bond	4.750		03/08/44		4,450
	3,600,000	g	Namibia International Bonds	5.500		11/03/21		4,023
	9,250,000	g	National Bank of Canada	1.650		01/30/14		9,406
	10,000,000	g	Nederlandse Waterschapsbank NV	2.125		02/09/17		10,339
	2,000,000		Panama Government International Bond	5.200		01/30/20		2,403
	2,450,000		Panama Government International Bond	6.700		01/26/36		3,442
	1,000,000		Peruvian Government International Bond	7.125		03/30/19		1,325
	1,200,000		Peruvian Government International Bond	7.350		07/21/25		1,758
	1,250,000		Peruvian Government International Bond	6.550		03/14/37		1,841
	1,000,000		Philippine Government International Bond	5.500		03/30/26		1,254
	2,000,000		Philippine Government International Bond	5.000		01/13/37		2,375
	6,350,000		Poland Government International Bond	6.375		07/15/19		7,842
	10,667,000		Poland Government International Bond	5.125		04/21/21		12,427
	4,280,000		Poland Government International Bond	5.000		03/23/22		4,965
	4,635,000		Poland Government International Bond	3.000		03/17/23		4,555
	25,000,000	g	Province of Alberta Canada	1.000		06/21/17		25,313
	13,825,000		Province of British Columbia Canada	2.850		06/15/15		14,725
	21,000,000		Province of British Columbia Canada	1.200		04/25/17		21,449
	3,000,000		Province of Manitoba Canada	2.125		04/22/13		3,031
	20,000,000		Province of Manitoba Canada	1.375		04/28/14		20,326
	20,750,000		Province of Manitoba Canada	1.750		05/30/19		21,238
	20,000,000		Province of New Brunswick Canada	2.750		06/15/18		21,643
	12,000,000		Province of Nova Scotia Canada	2.375		07/21/15		12,620
	27,400,000		Province of Ontario Canada	4.100		06/16/14		29,137
	24,250,000		Province of Ontario Canada	2.950		02/05/15		25,666
	35,525,000		Province of Ontario Canada	2.700		06/16/15		37,583
	24,000,000		Province of Ontario Canada	2.300		05/10/16		25,344
	10,000,000		Province of Ontario Canada	4.000		10/07/19		11,580
	2,250,000		Province of Quebec Canada	5.125		11/14/16		2,642
	8,835,000		Province of Quebec Canada	4.625		05/14/18		10,439
	22,500,000		Province of Quebec Canada	3.500		07/29/20		25,155
	20,000,000		Province of Quebec Canada	2.750		08/25/21		20,939
	6,000,000		Province of Quebec Canada	7.500		09/15/29		9,286
	2,500,000	g	Qatar Government International Bond	4.500		01/20/22		2,825

323

COLLEGE RETIREMENT EQUITIES FUND - Bond Market Account

PRINCIPAL			ISSUER	RATE		MATURITY DATE	VALUE (000)
$	920,000	g	Republic of Ghana	8.500	%	10/04/17	$	1,081
	4,230,000	g	Republic of Indonesia	4.875		05/05/21		4,843
	2,500,000	g	Republic of Indonesia	5.250		01/17/42		2,847
	1,070,000	g	Republic of Serbia	7.250		09/28/21		1,132
	3,333,334		Republic of Serbia	6.750		11/01/24		3,267
	4,500,000		Republic of Turkey	7.500		07/14/17		5,400
	1,650,000		Republic of Turkey	6.000		01/14/41		1,904
	3,425,000	g	Republic of Zambia	5.375		09/20/22		3,442
	4,200,000	g	Romanian Government International Bond	6.750		02/07/22		4,725
	3,900,000	g	Russian Foreign Bond - Eurobond	3.625		04/29/15		4,105
	3,900,000	g	Russian Foreign Bond - Eurobond	3.250		04/04/17		4,104
	3,375,000	g	Russian Foreign Bond - Eurobond	5.000		04/29/20		3,873
	2,230,000	g	Russian Foreign Bond - Eurobond	4.500		04/04/22		2,489
	3,670,000	g	Russian Foreign Bond - Eurobond	5.625		04/04/42		4,404
	2,300,000	g	Slovakia Government International Bond	4.375		05/21/22		2,420
	4,502,000		South Africa Government International Bond	6.875		05/27/19		5,667
	3,500,000		South Africa Government International Bond	5.500		03/09/20		4,156
	3,775,000		South Africa Government International Bond	4.665		01/17/24		4,237
	1,600,000		South Africa Government International Bond	6.250		03/08/41		2,113
	3,700,000	g	Sri Lanka Government International Bond	6.250		10/04/20		4,024
	1,630,000	g	Sri Lanka Government International Bond	6.250		07/27/21		1,772
	1,600,000	g	Sri Lanka Government International Bond	5.875		07/25/22		1,724
	7,680,000		Svensk Exportkredit AB	5.125		03/01/17		8,960
	3,650,000		Turkey Government International Bond	5.125		03/25/22		4,020
	2,180,000		United Mexican States	5.875		02/17/14		2,316
	3,500,000		United Mexican States	5.950		03/19/19		4,340
	500,000		United Mexican States	5.125		01/15/20		598
	4,500,000		Uruguay Government International Bond	6.875		09/28/25		6,120
			TOTAL FOREIGN GOVERNMENT BONDS					791,068
MORTGAGE BACKED - 30.0%
	3,668,037	i	Federal Home Loan Mortgage Corp (FHLMC)	2.380		02/01/36		3,872
	5,139,558	i	FHLMC	2.853		07/01/36		5,530
	2,665,037	i	FHLMC	2.561		09/01/36		2,841
	3,333,660	i	FHLMC	2.620		09/01/36		3,541
	2,792,519	i	FHLMC	2.653		09/01/36		3,017
	3,017,807	i	FHLMC	2.794		09/01/36		3,205
	3,575,810	i	FHLMC	5.745		02/01/37		3,876
	7,568,857	i	FHLMC	2.848		03/01/37		8,131
	4,125,470	i	FHLMC	5.937		04/01/37		4,504
	229,478	i	FHLMC	5.856		05/01/37		249
	3,549,636	i	FHLMC	2.759		06/01/37		3,812
	3,499,038	i	FHLMC	3.405		08/01/37		3,763
	2,781,063	i	FHLMC	2.239		09/01/37		2,963
	27,846,680	i	FHLMC (interest only)	6.339		09/15/41		6,770
	29,014		Federal Home Loan Mortgage Corp Gold (FGLMC)	7.000		07/01/13		30
	484,170		FGLMC	6.500		12/01/16		521
	3,315,086		FGLMC	5.000		09/01/18		3,587
	1,719,387		FGLMC	4.500		10/01/18		1,890
	1,183,170		FGLMC	4.500		11/01/18		1,300
	1,284,344		FGLMC	5.500		01/01/19		1,408
	440,609		FGLMC	4.000		06/01/19		470
	1,665,466		FGLMC	4.500		01/01/20		1,790

324

COLLEGE RETIREMENT EQUITIES FUND - Bond Market Account

PRINCIPAL			ISSUER	RATE		MATURITY DATE	VALUE (000)
$	1,495,254		FGLMC	4.500	%	07/01/20	$	1,638
	994,114		FGLMC	4.500		08/01/20		1,068
	179,808		FGLMC	7.000		10/01/20		210
	4,571,833		FGLMC	4.500		06/01/21		4,921
	13,226,613		FGLMC	4.500		06/01/21		14,236
	1,728,261		FGLMC	5.000		04/01/23		1,864
	34,119		FGLMC	7.000		05/01/23		40
	431,416		FGLMC	6.000		10/01/23		476
	344,517		FGLMC	6.000		11/01/23		380
	6,480,731		FGLMC	4.000		07/01/24		6,899
	2,084,708		FGLMC	4.500		09/01/24		2,237
	33,000,000	h	FGLMC	5.000		10/15/27		35,552
	80,834		FGLMC	8.000		01/01/31		100
	85,832		FGLMC	7.000		12/01/31		101
	138,702		FGLMC	7.000		12/01/31		164
	82,605		FGLMC	7.000		12/01/31		98
	6,375		FGLMC	7.000		01/01/32		8
	347,700		FGLMC	8.000		02/01/32		431
	3,129,501		FGLMC	4.500		07/01/33		3,374
	1,695,850		FGLMC	5.500		11/01/33		1,896
	7,622,143		FGLMC	5.500		12/01/33		8,383
	3,265,865		FGLMC	5.500		12/01/33		3,658
	14,026,436		FGLMC	7.000		12/01/33		16,678
	24,054,484		FGLMC	5.000		01/01/34		26,321
	6,143,333		FGLMC	5.000		05/01/34		6,676
	3,312,363		FGLMC	6.000		09/01/34		3,675
	9,796,483		FGLMC	4.500		10/01/34		10,561
	816,025		FGLMC	5.500		12/01/34		901
	4,344,997		FGLMC	4.500		04/01/35		4,684
	1,021,579		FGLMC	6.000		05/01/35		1,140
	1,375,854		FGLMC	6.000		05/01/35		1,532
	1,526,976		FGLMC	6.000		05/01/35		1,703
	1,244,470		FGLMC	6.000		05/01/35		1,394
	1,991,393		FGLMC	6.000		05/01/35		2,213
	3,095,611		FGLMC	6.000		05/01/35		3,436
	5,710,413		FGLMC	7.000		05/01/35		6,790
	9,861,597		FGLMC	5.500		06/01/35		10,822
	1,110,626		FGLMC	5.500		06/01/35		1,218
	2,765,737		FGLMC	5.500		06/01/35		3,034
	1,357,386		FGLMC	5.500		06/01/35		1,489
	2,370,741		FGLMC	6.000		06/01/35		2,639
	6,228,985		FGLMC	4.500		08/01/35		6,710
	641,963		FGLMC	5.000		10/01/35		699
	431,880		FGLMC	6.500		11/01/35		490
	492,325		FGLMC	6.000		01/01/36		542
	1,787,510		FGLMC	5.000		02/01/36		1,946
	740,817		FGLMC	5.500		04/01/36		816
	393,917		FGLMC	6.500		05/01/36		449
	5,117,953		FGLMC	6.500		10/01/36		5,832
	8,107,415		FGLMC	5.500		04/01/37		8,843
	11,435,244		FGLMC	5.500		05/01/37		12,473
	5,204,094		FGLMC	6.000		08/01/37		5,783
	2,203,536		FGLMC	6.000		09/01/37		2,449

325

COLLEGE RETIREMENT EQUITIES FUND - Bond Market Account

PRINCIPAL			ISSUER	RATE		MATURITY DATE	VALUE (000)
$	3,491,019		FGLMC	6.500	%	11/01/37	$	3,980
	9,300,041		FGLMC	5.000		04/01/38		10,269
	6,050,856		FGLMC	6.000		11/01/38		6,652
	7,808,013		FGLMC	4.500		05/01/39		8,399
	11,506,953		FGLMC	4.000		06/01/39		12,375
	6,072,320		FGLMC	5.000		07/01/39		6,584
	9,316,054		FGLMC	6.000		07/01/39		10,393
	20,652,967		FGLMC	4.500		11/01/40		23,172
	23,128,924		FGLMC	4.500		12/01/40		25,784
	32,000,000	h	FGLMC	3.500		10/15/42		34,310
	33,000,000	h	FGLMC	4.000		10/15/42		35,470
	143,000,000	h	FGLMC	4.500		10/15/42		153,792
	85,000,000	h	FGLMC	5.000		10/15/42		92,119
	16,210		Federal National Mortgage Association (FNMA)	5.000		06/01/13		17
	2,540,745		FNMA	4.440		07/01/13		2,572
	2,710,812		FNMA	4.757		10/01/13		2,783
	1,178,172		FNMA	4.791		02/01/14		1,214
	5,046,615		FNMA	4.440		04/01/14		5,246
	1,424,890		FNMA	4.564		01/01/15		1,498
	121,741		FNMA	7.500		02/01/15		129
	382,538		FNMA	7.500		04/01/15		406
	290,724		FNMA	7.500		04/01/15		309
	26,593		FNMA	6.500		03/01/16		30
	12,080		FNMA	6.500		04/01/16		14
	216,159		FNMA	6.500		10/01/16		232
	205,682		FNMA	6.500		11/01/16		221
	1,925,333		FNMA	5.000		12/01/17		2,099
	528,777		FNMA	6.500		02/01/18		577
	1,498,168		FNMA	5.500		03/01/18		1,638
	3,705,531		FNMA	5.500		04/01/18		4,052
	332,549		FNMA	5.500		04/01/18		364
	583,584		FNMA	6.500		04/01/18		636
	140,845		FNMA	5.500		05/01/18		154
	6,547,172		FNMA	4.500		12/01/18		7,237
	163,783		FNMA	6.000		01/01/19		181
	45,876		FNMA	6.000		02/01/19		51
	3,810,859		FNMA	5.000		04/01/19		4,155
	1,732,262		FNMA	4.500		06/01/19		1,875
	2,440,047		FNMA	5.000		03/01/20		2,661
	1,680,829		FNMA	5.500		07/01/20		1,839
	861,518		FNMA	4.500		11/01/20		932
	2,381,523		FNMA	5.000		12/01/20		2,597
	3,928,567		FNMA	5.000		03/01/21		4,284
	2,321,399		FNMA	5.500		08/01/21		2,534
	1,722,364		FNMA	4.500		03/01/23		1,860
	91,592		FNMA	8.000		03/01/23		105
	3,227,041		FNMA	4.500		06/01/23		3,484
	2,540,991		FNMA	5.000		07/01/23		2,761
	4,355,569		FNMA	5.000		07/01/23		4,732
	2,064,692		FNMA	5.000		12/01/23		2,288
	636,164		FNMA	5.500		02/01/24		704
	4,172,000		FNMA	4.000		05/01/24		4,465
	1,245,146		FNMA	5.500		07/01/24		1,378

326

COLLEGE RETIREMENT EQUITIES FUND - Bond Market Account

PRINCIPAL			ISSUER	RATE		MATURITY DATE	VALUE (000)
$	212,008		FNMA	8.000	%	07/01/24	$	254
	2,255,400		FNMA	4.500		08/01/24		2,435
	1,664,237		FNMA	5.500		08/01/24		1,842
	11,203,949		FNMA	4.000		09/01/24		11,991
	5,303,900		FNMA	5.000		10/01/25		5,845
	48,834		FNMA	9.000		11/01/25		60
	11,638,493		FNMA	3.000		05/01/27		12,521
	53,000,000	h	FNMA	2.500		10/25/27		55,700
	25,000,000	h	FNMA	3.000		10/25/27		26,500
	6,000,000	h	FNMA	4.000		10/25/27		6,416
	22,000,000	h	FNMA	4.500		10/25/27		23,736
	3,204,960		FNMA	6.500		07/01/32		3,706
	237,666		FNMA	7.000		07/01/32		285
	247,621		FNMA	7.000		07/01/32		297
	3,661,716		FNMA	5.500		01/01/33		4,064
	2,256,745		FNMA	6.000		01/01/33		2,528
	592,436		FNMA	5.000		02/01/33		651
	4,583,615		FNMA	4.500		03/25/33		4,791
	2,105,745		FNMA	4.500		08/01/33		2,290
	2,644,993		FNMA	5.000		08/01/33		2,907
	3,625,270		FNMA	4.500		10/01/33		3,943
	247,300		FNMA	5.000		10/01/33		272
	2,544,555		FNMA	5.000		10/01/33		2,796
	593,838		FNMA	5.000		10/01/33		653
	17,343,266		FNMA	5.000		11/01/33		19,060
	387,278		FNMA	5.000		11/01/33		432
	4,762,926		FNMA	5.000		11/01/33		5,271
	4,966,446		FNMA	5.000		11/01/33		5,659
	1,489,377		FNMA	5.500		12/01/33		1,653
	4,181,590		FNMA	5.500		12/01/33		4,788
	401,687		FNMA	5.500		12/01/33		448
	953,042		FNMA	5.000		03/01/34		1,047
	833,751		FNMA	5.000		03/01/34		916
	2,429,841		FNMA	5.000		03/01/34		2,670
	730,542		FNMA	5.000		03/01/34		803
	6,218,342		FNMA	5.000		03/01/34		6,834
	3,554,989		FNMA	5.500		03/01/34		4,048
	6,752,503		FNMA	5.000		04/01/34		7,380
	22,823,154		FNMA	5.000		08/01/34		24,973
	3,996,842		FNMA	6.000		08/01/34		4,524
	1,308,962		FNMA	5.500		09/01/34		1,485
	1,630,710		FNMA	5.500		09/01/34		1,850
	1,546,704		FNMA	5.500		10/01/34		1,761
	1,203,053		FNMA	5.500		10/01/34		1,365
	1,537,953		FNMA	6.000		12/01/34		1,735
	2,114,740		FNMA	5.500		01/01/35		2,340
	25,682,654		FNMA	5.500		02/01/35		28,501
	2,412,158		FNMA	5.500		04/01/35		2,747
	2,585,434		FNMA	6.000		04/01/35		2,906
	6,055,110		FNMA	4.500		05/01/35		6,585
	10,103,248		FNMA	5.500		05/01/35		11,155
	3,417,692		FNMA	6.000		05/01/35		3,841
	513,002		FNMA	5.500		06/01/35		584

327

COLLEGE RETIREMENT EQUITIES FUND - Bond Market Account

PRINCIPAL			ISSUER	RATE		MATURITY DATE	VALUE (000)
$	266,599		FNMA	5.500	%	06/01/35	$	294
	1,513,245		FNMA	5.500		06/01/35		1,676
	3,052,874		FNMA	5.500		06/01/35		3,371
	1,167,342		FNMA	5.500		06/01/35		1,288
	111,127		FNMA	7.500		06/01/35		124
	1,373,353		FNMA	5.500		07/01/35		1,516
	1,629,250		FNMA	6.000		07/01/35		1,829
	3,352,269		FNMA	4.500		08/01/35		3,634
	5,431,762		FNMA	5.000		08/01/35		5,947
	6,067,768		FNMA	5.500		09/01/35		6,910
	5,259,684		FNMA	5.000		10/01/35		5,758
	2,853,576		FNMA	5.500		11/01/35		3,147
	3,266,748	i	FNMA	2.703		02/01/36		3,504
	5,317,732		FNMA	5.000		02/01/36		5,823
	10,733,170		FNMA	6.000		03/01/36		11,880
	1,656,807	i	FNMA	2.760		07/01/36		1,778
	2,786,866		FNMA	6.500		09/01/36		3,162
	3,739,893		FNMA	6.000		12/01/36		4,139
	4,450,160		FNMA	6.500		03/01/37		5,055
	141,662		FNMA	6.500		03/01/37		161
	3,272,883		FNMA	7.000		04/01/37		3,908
	1,689,716		FNMA	6.500		08/01/37		1,917
	5,080,308		FNMA	6.500		08/01/37		5,759
	3,081,622		FNMA	6.000		09/01/37		3,493
	2,972,157		FNMA	6.000		09/01/37		3,360
	2,203,898		FNMA	6.000		09/01/37		2,498
	3,989,022		FNMA	6.000		09/01/37		4,521
	4,055,593		FNMA	6.500		09/01/37		4,621
	2,474,798		FNMA	6.500		09/01/37		2,820
	434,675		FNMA	6.500		09/01/37		491
	4,864,372		FNMA	6.500		09/01/37		5,543
	4,282,608		FNMA	6.500		09/01/37		4,837
	6,766,724	i	FNMA	4.589		10/01/37		7,278
	1,600,629		FNMA	7.000		11/01/37		1,911
	372,928		FNMA	6.500		01/01/38		425
	88,212		FNMA	6.500		02/01/38		100
	608,198		FNMA	6.500		03/01/38		693
	300,067		FNMA	6.500		03/01/38		342
	2,154,109		FNMA	6.500		03/01/38		2,456
	8,486,149		FNMA	6.000		07/01/38		9,393
	3,058,897	i	FNMA	4.916		10/01/38		3,293
	15,248,625		FNMA	6.000		10/01/38		16,877
	4,990,564		FNMA	4.500		01/01/39		5,403
	3,915,142		FNMA	5.500		01/01/39		4,293
	3,533,340		FNMA	6.000		01/01/39		3,903
	4,507,337		FNMA	6.000		01/01/39		4,979
	6,710,640		FNMA	4.500		02/01/39		7,266
	9,757,844		FNMA	4.500		02/01/39		10,565
	3,676,252		FNMA	5.500		02/01/39		4,031
	8,238,205		FNMA	4.000		04/01/39		9,170
	6,399,782		FNMA	4.500		05/01/39		6,929
	8,330,061		FNMA	4.500		08/01/39		9,019
	14,464,538		FNMA	5.500		08/01/39		16,296

328

COLLEGE RETIREMENT EQUITIES FUND - Bond Market Account

PRINCIPAL			ISSUER	RATE		MATURITY DATE	VALUE (000)
$	31,000,000		FNMA	4.000	%	02/25/40	$	33,910
	56,172,554		FNMA	4.500		09/01/40		60,994
	31,223,044		FNMA	4.500		09/01/40		33,903
	14,345,928		FNMA	4.000		11/01/40		15,476
	26,405,689		FNMA	4.500		11/01/40		29,151
	23,420,165		FNMA	4.000		02/01/41		25,265
	141,000,000	h	FNMA	3.000		10/25/42		148,843
	253,000,000	h	FNMA	3.500		10/25/42		271,342
	387,000,000	h	FNMA	4.000		10/25/42		416,932
	178,000,000	h	FNMA	4.500		10/25/42		192,657
	277,000,000	h	FNMA	5.000		10/25/42		302,146
	309,000,000	h	FNMA	5.500		10/25/42		338,741
	166,000,000	h	FNMA	6.000		10/25/42		183,274
	25,000,000	h	FNMA	6.500		10/25/42		28,102
	15,015		Government National Mortgage Association (GNMA)	9.000		06/15/16		17
	3,388		GNMA	9.000		09/15/16		3
	4,884		GNMA	9.000		09/15/16		5
	9,686		GNMA	9.000		11/15/16		10
	6,838		GNMA	9.000		12/15/16		7
	3,007		GNMA	9.000		12/15/16		3
	59,167		GNMA	9.500		12/15/16		66
	30,849		GNMA	8.000		06/15/24		37
	44,176		GNMA	8.500		11/20/30		55
	65,084		GNMA	8.500		12/20/30		82
	2,315,869		GNMA	5.500		07/15/33		2,593
	1,078,602		GNMA	5.500		11/20/33		1,212
	4,055,493		GNMA	5.500		03/20/35		4,551
	2,245,430		GNMA	5.500		12/20/35		2,516
	1,400,149		GNMA	6.000		10/20/36		1,586
	1,448,943		GNMA	6.000		01/20/37		1,642
	4,123,268		GNMA	6.000		02/20/37		4,672
	3,959,806		GNMA	6.000		12/15/37		4,479
	4,707,307		GNMA	5.000		04/15/38		5,191
	5,928,267		GNMA	5.500		07/15/38		6,596
	6,036,052		GNMA	5.500		07/20/38		6,732
	1,998,791		GNMA	6.000		08/15/38		2,260
	1,992,939		GNMA	6.000		08/20/38		2,253
	2,777,912		GNMA	6.500		11/20/38		3,202
	9,175,451		GNMA	4.500		03/15/39		10,110
	8,488,101		GNMA	4.500		05/15/39		9,352
	5,803,786		GNMA	5.000		06/15/39		6,438
	4,956,601		GNMA	5.000		06/15/39		5,498
	12,154,889		GNMA	4.500		07/20/39		13,447
	3,656,079		GNMA	5.000		07/20/39		4,041
	4,356,253		GNMA	4.000		08/15/39		4,814
	1,620,721		GNMA	4.000		11/20/39		1,707
	109,000,000	h	GNMA	3.500		10/15/42		119,440
	161,000,000	h	GNMA	4.000		10/15/42		177,502
	43,000,000	h	GNMA	4.500		10/15/42		47,199
	102,000,000	h	GNMA	5.000		10/15/42		112,455
	48,000,000	h	GNMA	5.500		10/15/42		53,398
	40,000,000	h	GNMA	6.000		10/15/42		45,194
	121,000,000	h	GNMA	4.500		10/20/42		133,497

329

COLLEGE RETIREMENT EQUITIES FUND - Bond Market Account

PRINCIPAL			ISSUER	RATE		MATURITY DATE	VALUE (000)
$	50,000,000	h	GNMA	5.000	%	10/20/42	$	55,227
	7,829,407		GNMA	6.500		01/15/44		8,523
			TOTAL MORTGAGE BACKED					4,317,933
MUNICIPAL BONDS - 1.6%
	2,000,000		Charlotte-Mecklenburg Hospital Authority	5.000		08/01/15		2,174
	15,000,000		City of New York NY	2.450		04/01/19		15,413
	10,000,000		City of New York NY	2.650		04/01/20		10,285
	13,000,000		Grant County Public Utility District No 2	5.630		01/01/27		16,204
	2,000,000		Permanent University Fund	1.439		07/01/17		2,023
	2,625,000		Permanent University Fund	1.730		07/01/18		2,655
	4,720,000		Permanent University Fund	1.880		07/01/19		4,787
	2,320,000		Permanent University Fund	2.258		07/01/20		2,357
	2,160,000		Permanent University Fund	2.408		07/01/21		2,190
	2,750,000		Permanent University Fund	2.508		07/01/22		2,780
	2,855,000		Permanent University Fund	2.608		07/01/23		2,881
	3,250,000		Permanent University Fund	2.708		07/01/24		3,279
	2,335,000		Permanent University Fund	2.808		07/01/25		2,357
	3,775,000		Permanent University Fund	2.908		07/01/26		3,813
	4,000,000		Permanent University Fund	3.008		07/01/27		4,043
	18,535,000		Permanent University Fund	3.575		07/01/32		18,699
	9,000,000		State of California	5.450		04/01/15		9,932
	11,370,000		State of California	5.950		04/01/16		13,003
	16,100,000		State of California	7.625		03/01/40		21,905
	2,915,000		State of Georgia	1.750		07/01/19		2,966
	3,060,000		State of Georgia	2.000		07/01/20		3,119
	3,215,000		State of Georgia	2.150		07/01/21		3,271
	3,905,000		State of Georgia	2.750		07/01/25		3,934
	4,100,000		State of Georgia	2.850		07/01/26		4,124
	4,305,000		State of Georgia	2.950		07/01/27		4,330
	4,520,000		State of Georgia	3.050		07/01/28		4,546
	4,100,000		State of Illinois	1.560		06/15/17		4,133
	4,500,000		State of Illinois	1.998		06/15/18		4,556
	6,780,000		State of Illinois	2.298		06/15/19		6,899
	4,220,000		State of Illinois	2.681		06/15/20		4,331
	16,210,000		State of Illinois	2.781		06/15/21		16,484
	4,325,000		State of Illinois	2.931		06/15/22		4,387
	15,000,000		UNM Sandoval Regional Medical Center	4.500		07/20/36		15,846
			TOTAL MUNICIPAL BONDS					223,706
U.S. TREASURY SECURITIES - 17.8%
	209,872,000		United States Treasury Bond	8.000		11/15/21		328,728
	22,000,000		United States Treasury Bond	6.375		08/15/27		33,756
	49,175,000		United States Treasury Bond	5.250		02/15/29		68,968
	197,561,000		United States Treasury Bond	5.375		02/15/31		285,753
	677,000		United States Treasury Bond	4.500		02/15/36		903
	111,855,000		United States Treasury Bond	3.500		02/15/39		128,406
	26,135,000		United States Treasury Bond	4.375		05/15/41		34,629
	31,834,000		United States Treasury Bond	3.750		08/15/41		38,062
	423,000		United States Treasury Bond	3.125		11/15/41		451
	73,806,000		United States Treasury Bond	3.000		05/15/42		76,528
	18,100,000		United States Treasury Bond	2.750		08/15/42		17,800
	62,500,000	d	United States Treasury Note	1.375		11/15/12		62,595

330

COLLEGE RETIREMENT EQUITIES FUND - Bond Market Account

PRINCIPAL			ISSUER	RATE		MATURITY DATE	VALUE (000)
$	24,690,000		United States Treasury Note	0.625	%	01/31/13	$	24,731
	1,575,000		United States Treasury Note	0.125		08/31/13		1,574
	25,195,000		United States Treasury Note	3.125		08/31/13		25,869
	54,829,000		United States Treasury Note	3.125		09/30/13		56,429
	3,835,000		United States Treasury Note	0.500		10/15/13		3,847
	2,230,000		United States Treasury Note	0.250		10/31/13		2,231
	62,337,000		United States Treasury Note	2.750		10/31/13		64,049
	68,179,000		United States Treasury Note	2.000		11/30/13		69,596
	45,365,000		United States Treasury Note	0.125		12/31/13		45,317
	15,000,000		United States Treasury Note	0.250		02/28/14		15,007
	6,050,000		United States Treasury Note	0.250		05/31/14		6,052
	36,250,000		United States Treasury Note	0.250		06/30/14		36,257
	13,200,000		United States Treasury Note	0.250		08/31/14		13,203
	5,000,000		United States Treasury Note	0.250		09/30/14		5,001
	19,897,000		United States Treasury Note	2.500		04/30/15		21,029
	79,421,000		United States Treasury Note	2.125		05/31/15		83,262
	12,717,000		United States Treasury Note	1.875		06/30/15		13,265
	15,952,000		United States Treasury Note	1.750		07/31/15		16,600
	371,110,000		United States Treasury Note	0.250		08/15/15		370,530
	100,000,000		United States Treasury Note	0.250		09/15/15		99,828
	18,485,000		United States Treasury Note	1.250		10/31/15		19,003
	9,800,000		United States Treasury Note	2.375		03/31/16		10,476
	68,903,000		United States Treasury Note	1.000		10/31/16		70,351
	10,000,000		United States Treasury Note	3.125		10/31/16		11,071
	60,480,000		United States Treasury Note	0.875		11/30/16		61,458
	5,944,400		United States Treasury Note	0.625		05/31/17		5,959
	82,351,500		United States Treasury Note	0.625		08/31/17		82,403
	92,420,000		United States Treasury Note	2.375		05/31/18		100,629
	17,100,000	l	United States Treasury Note	2.250		07/31/18		18,511
	35,365,000		United States Treasury Note	1.750		10/31/18		37,266
	5,625,000		United States Treasury Note	1.375		02/28/19		5,785
	5,550,000		United States Treasury Note	1.000		06/30/19		5,549
	80,000,000		United States Treasury Note	1.000		08/31/19		79,800
	319,500		United States Treasury Note	2.625		11/15/20		353
	2,155,900		United States Treasury Note	1.625		08/15/22		2,154
			TOTAL U.S. TREASURY SECURITIES					2,561,024
			TOTAL GOVERNMENT BONDS					8,626,206
			(Cost $8,248,038)
STRUCTURED ASSETS - 4.6%
ASSET BACKED - 2.6%
	90,000,000		AEP Texas Central Transition Funding LLC	1.976		06/01/21		93,226
			Series - 2012 1 (Class A2)
	31,170,000		AEP Texas Central Transition Funding LLC	2.845		03/01/26		33,309
			Series - 2012 1 (Class A3)
	28,000,000		AmeriCredit Automobile Receivables Trust	0.710		12/08/15		28,064
			Series - 2012 3 (Class A2)
	74,236	g	Asset Backed Funding Corp NIM Trust	5.900		07/26/35		0	^
			Series - 2006 WMC1 (Class N1)
	4,798,701	i	Bear Stearns Asset Backed Securities Trust	0.587		11/25/39		4,518
			Series - 2005 SD3 (Class 2A1)

331

COLLEGE RETIREMENT EQUITIES FUND - Bond Market Account

PRINCIPAL			ISSUER	RATE		MATURITY DATE	VALUE (000)
$	32,710,000		CenterPoint Energy Transition Bond Co LLC	3.028	%	10/15/25	$	35,533
			Series - 2012 1 (Class A3)
	1,180,137	i	Chase Funding Mortgage Loan Asset-Backed Certificates	5.700		02/25/35		533
			Series - 2004 2 (Class 1M2)
	2,380,087		CIT Group Home Equity Loan Trust	6.200		02/25/30		2,373
			Series - 2002 1 (Class AF6)
	1,008,915		Citicorp Mortgage Securities, Inc	5.706		07/25/36		1,008
			Series - 2006 1 (Class A3)
	732,357	i	Countrywide Asset-Backed Certificates	0.627		05/25/36		714
			Series - 2004 AB2 (Class A3)
	2,257,958	i	Countrywide Asset-Backed Certificates	5.683		10/25/46		2,259
			Series - 2006 15 (Class A2)
	2,517,267	g	Credit-Based Asset Servicing and Securitization LLC	6.159		12/25/36		2,427
			Series - 2007 MX1 (Class A1)
	5,525,000	g,i	DB/UBS Mortgage Trust	5.728		11/10/46		6,287
			Series - 2011 LC1A (Class C)
	9,925,000	g	Dominos Pizza Master Issuer LLC	5.216		01/25/42		11,064
			Series - 2012 1A (Class A2)
	8,968,197	g	Flagstar Home Equity Loan Trust	5.781		01/25/35		8,609
			Series - 2007 1A (Class AF3)
	2,725,000		Ford Credit Auto Owner Trust	3.210		07/15/17		2,840
			Series - 2011 A (Class D)
	22,000,000	g	Hyundai Auto Lease Securitization Trust 2011-A	0.680		01/15/15		22,045
			Series - 2012 A (Class A2)
	18,695,663		Lehman XS Trust	6.500		06/25/46		11,423
			Series - 2006 13 (Class 2A1)
	1,816,068	i	Long Beach Mortgage Loan Trust	0.967		02/25/35		1,794
			Series - 2005 1 (Class M1)
	2,705,684	i	Park Place Securities, Inc	1.162		09/25/34		2,581
			Series - 2004 WHQ1 (Class M1)
	39,659	i	Renaissance Home Equity Loan Trust	0.657		08/25/33		35
			Series - 2003 2 (Class A)
	8,025,000		Renaissance Home Equity Loan Trust	5.586		11/25/36		3,978
			Series - 2006 3 (Class AF3)
	362,833	i	Residential Asset Securities Corp	6.489		10/25/30		344
			Series - 2001 KS2 (Class AI6)
	2,254,054	i	Residential Asset Securities Corp	0.647		04/25/35		2,202
			Series - 2005 KS3 (Class M3)
	11,283,849		Residential Funding Mortgage Securities II, Inc	5.500		08/25/25		11,235
			Series - 2006 HI5 (Class A3)
	2,927,823		Residential Funding Mortgage Securities II, Inc	5.450		08/25/34		2,666
			Series - 2005 HI1 (Class A5)
	3,715,953		Residential Funding Mortgage Securities II, Inc	5.960		02/25/36		3,844
			Series - 2006 HI3 (Class A3)
	2,500,000		Residential Funding Mortgage Securities II, Inc	6.010		02/25/36		2,502
			Series - 2006 HI1 (Class M1)
	350,000		Residential Funding Mortgage Securities II, Inc	6.060		02/25/36		348
			Series - 2006 HI1 (Class M2)
	30,000,000		Santander Drive Auto Receivables Trust	0.790		08/17/15		30,093
			Series - 2012 4 (Class A2)
	2,027,490	i	Securitized Asset Backed Receivables LLC	0.517		10/25/35		1,948
			Series - 2006 OP1 (Class A2C)
	3,480,000	g	SLM Student Loan Trust	3.740		02/15/29		3,719
			Series - 2011 B (Class A2)

332

COLLEGE RETIREMENT EQUITIES FUND - Bond Market Account

PRINCIPAL			ISSUER	RATE		MATURITY DATE	VALUE (000)
$	4,633,978	i	Soundview Home Equity Loan Trust	0.517	%	11/25/35	$	4,484
			Series - 2005 OPT3 (Class A4)
	256,182	i	Soundview Home Equity Loan Trust	0.327		10/25/36		256
			Series - 2006 EQ1 (Class A2)
	1,254,897	i	Structured Asset Investment Loan Trust	0.617		05/25/35		1,244
			Series - 2005 4 (Class M1)
	5,113,846	i	Structured Asset Investment Loan Trust	0.497		12/25/35		5,073
			Series - 2005 10 (Class A5)
	8,585,000	g	Vornado DP LLC	5.280		09/13/28		9,767
			Series - 2010 VNO (Class C)
	1,099,776	g,m	Wachovia Amortization Controlled Heloc NIM	5.683		08/12/47		1,023
			Series - 2006 N1 (Class N1)
	2,297,222	g,i	Wachovia Loan Trust	0.577		05/25/35		1,891
			Series - 2005 SD1 (Class A)
	2,231,229	i	Wells Fargo Home Equity Trust	0.357		07/25/36		2,202
			Series - 2006 2 (Class A3)
	5,000,000		World Financial Network Credit Card Master Trust	6.750		04/15/19		5,570
			Series - 2010 A (Class B)
	5,000,000		World Omni Automobile Lease Securitization Trust	0.710		01/15/15		5,010
			Series - 2012 A (Class A2)
			TOTAL ASSET BACKED					370,041
OTHER MORTGAGE BACKED - 2.0%
	1,315,000		Banc of America Commercial Mortgage, Inc	5.675		07/10/46		1,466
			Series - 2006 4 (Class AM)
	9,773,000	i	Banc of America Commercial Mortgage, Inc	5.803		04/10/49		11,375
			Series - 2007 2 (Class A4)
	6,800,000	i	Bear Stearns Commercial Mortgage Securities	5.582		09/11/41		7,560
			Series - 2006 PW13 (Class AM)
	6,375,000	i	Bear Stearns Commercial Mortgage Securities	5.568		10/12/41		7,142
			Series - 2006 T24 (Class AM)
	1,224,375		Citicorp Mortgage Securities, Inc	5.750		11/25/36		1,240
			Series - 2006 6 (Class A2)
	1,023,592		Citicorp Mortgage Securities, Inc	6.000		05/25/37		1,022
			Series - 2007 4 (Class 1A7)
	188,665	g,i	Citigroup Commercial Mortgage Trust	0.361		04/15/22		185
			Series - 2007 FL3A (Class A2)
	1,900,000		Citigroup Commercial Mortgage Trust	1.813		09/10/45		1,947
			Series - 2012 GC8 (Class A2)
	9,330,000	i	Commercial Mortgage Pass Through Certificates	5.650		12/10/49		10,242
			Series - 2007 C9 (Class AM)
	5,008,359		Countrywide Alternative Loan Trust	5.500		08/25/16		5,317
			Series - 2004 30CB (Class 1A15)
	4,087,942		Countrywide Home Loan Mortgage Pass Through Trust	5.250		02/25/16		4,169
			Series - 2005 6 (Class 1A10)
	1,612,013		Countrywide Home Loan Mortgage Pass Through Trust	5.250		05/25/35		1,621
			Series - 2005 12 (Class 1A5)
	483,348		Countrywide Home Loan Mortgage Pass Through Trust	5.500		09/25/35		484
			Series - 2005 J3 (Class 1A1)
	3,186,693	g,i	Credit Suisse Mortgage Capital Certificates	0.401		04/15/22		3,013
			Series - 2007 TF2A (Class A1)
	11,500,000	g	Credit Suisse Mortgage Capital Certificates	5.626		05/15/23		13,160
			Series - 2006 OMA (Class D)

333

COLLEGE RETIREMENT EQUITIES FUND - Bond Market Account

PRINCIPAL			ISSUER	RATE		MATURITY DATE	VALUE (000)
$	14,450,000	g	Credit Suisse Mortgage Capital Certificates	5.383	%	02/15/40	$	14,591
			Series - 2009 RR1 (Class A3C)
	3,700,000		CS First Boston Mortgage Securities Corp	4.052		05/15/38		3,751
			Series - 2003 C3 (Class B)
	2,590,000	g	GS Mortgage Securities Corp II	1.000		06/05/31		2,725
			Series - 2012 SHOP (Class A)
	8,900,000	g	GS Mortgage Securities Corp II	2.933		06/05/31		9,360
			Series - 2012 SHOP (Class A)
	7,780,000	g	GS Mortgage Securities Corp II	3.551		04/10/34		8,403
			Series - 2012 ALOH (Class A)
	5,952,000	g,i,m	GS Mortgage Securities Corp II	4.276		04/10/34		6,104
			Series - 2012 GSMS (Class C)
	4,670,000	g,i	GS Mortgage Securities Corp II	5.402		12/10/43		5,119
			Series - 2010 C2 (Class C)
	5,910,000	g,i	GS Mortgage Securities Corp II	5.402		12/10/43		6,810
			Series - 2010 C2 (Class B)
	1,280,000	g,i	HVB Mortgage Capital Corp	2.278		09/10/22		1,280
			Series - 2003 FL1A (Class J)
	3,540,721	i	Irwin Home Equity Corp	0.597		02/25/34		2,885
			Series - 2005 A (Class A3)
	6,455,000	g,i	JP Morgan Chase Commercial Mortgage Securities Corp	5.431		07/15/46		6,883
			Series - 2011 C4 (Class C)
	4,695,000		JP Morgan Chase Commercial Mortgage Securities Corp	5.336		05/15/47		5,360
			Series - 2006 LDP9 (Class A3)
	1,400,000	i	JP Morgan Chase Commercial Mortgage Securities Corp	6.003		06/15/49		1,620
			Series - 2007 LD11 (Class A4)
	819,620	i	JP Morgan Mortgage Trust	4.281		04/25/35		835
			Series - 2005 A2 (Class 5A1)
	1,218,764		MASTER Asset Securitization Trust	5.000		05/25/35		1,223
			Series - 2005 1 (Class 2A5)
	3,729,128	i	Merrill Lynch Mortgage Trust	5.107		07/12/38		4,099
			Series - 2005 CIP1 (Class AM)
	12,565,000	i	Merrill Lynch/Countrywide Commercial Mortgage Trust	5.172		12/12/49		14,349
			Series - 2006 4 (Class A3)
	13,200,000	i	Morgan Stanley Capital I	5.447		02/12/44		15,235
			Series - 2007 HQ11 (Class A4)
	3,550,000	g,i	Morgan Stanley Capital I	5.421		09/15/47		3,734
			Series - 2011 C1 (Class D)
	6,560,000	g,i	Morgan Stanley Capital I	5.421		09/15/47		7,254
			Series - 2011 C1 (Class C)
	3,075,000	i	Morgan Stanley Capital I	5.544		11/12/49		3,296
			Series - 2007 T25 (Class AM)
	1,144,417	i	Nomura Asset Securities Corp	7.328		03/15/30		1,153
			Series - 1998 D6 (Class A2)
	3,203,947		Residential Accredit Loans, Inc	4.350		03/25/34		3,296
			Series - 2004 QS4 (Class A1)
	14,043,030	i	Residential Accredit Loans, Inc	0.407		05/25/46		9,169
			Series - 2006 QO5 (Class 2A1)
	3,900,000		RFMSI Trust	5.500		03/25/35		4,095
			Series - 2005 S2 (Class A6)
	4,498,116	g,i	Springleaf Mortgage Loan Trust	2.667		09/25/57		4,531
			Series - 2012 1A (Class A)

334

COLLEGE RETIREMENT EQUITIES FUND - Bond Market Account

PRINCIPAL			ISSUER	RATE		MATURITY DATE	VALUE (000)
$	4,626,234	g,i	Springleaf Mortgage Loan Trust	2.220	%	10/25/57	$	4,646
			Series - 0 2A (Class A)
	595,538	i	Structured Adjustable Rate Mortgage Loan Trust	0.977		03/25/35		596
			Series - 2005 6XS (Class A3)
	1,515,221		Wachovia Bank Commercial Mortgage Trust	5.246		12/15/43		1,533
			Series - 2007 C30 (Class A3)
	25,390,000		Wachovia Bank Commercial Mortgage Trust	5.342		12/15/43		28,739
			Series - 2007 C30 (Class A5)
	7,595,000		Wachovia Bank Commercial Mortgage Trust	5.500		04/15/47		8,481
			Series - 2007 C31 (Class A5)
	3,660,000		Wachovia Bank Commercial Mortgage Trust	5.339		11/15/48		3,953
			Series - 2006 C29 (Class AM)
	6,125,000	i	Wachovia Bank Commercial Mortgage Trust	6.122		02/15/51		7,220
			Series - 2007 C33 (Class A4)
	6,565,000	i	Wachovia Bank Commercial Mortgage Trust	6.122		02/15/51		7,664
			Series - 2007 C33 (Class A5)
	466,569		Wells Fargo Mortgage Backed Securities Trust	5.500		04/25/35		467
			Series - 2005 2 (Class 1A1)
	4,725,000	g,i	Wells Fargo Mortgage Backed Securities Trust	5.276		11/15/43		5,457
			Series - 2010 C1 (Class B)
			TOTAL OTHER MORTGAGE BACKED					285,859
			TOTAL STRUCTURED ASSETS					655,900
			(Cost $628,550)
			TOTAL BONDS					14,073,948
			(Cost $13,340,376)
SHARES			COMPANY
PREFERRED STOCKS - 0.0%
BANKS - 0.0%
	470,597	*	Federal Home Loan Mortgage Corp (FHLMC)	8.375		12/30/49		400
	1,527,061	*	Federal National Mortgage Association (FNMA)	8.250		12/30/49		1,329
			TOTAL BANKS					1,729
			TOTAL PREFERRED STOCKS					1,729
			(Cost $49,942)
PRINCIPAL			ISSUER
SHORT-TERM INVESTMENTS - 21.8%
GOVERNMENT AGENCY DEBT - 0.8%
$	41,760,000	d	Federal Home Loan Bank (FHLB)	0.110		10/17/12		41,758
	73,700,000	d	Federal Home Loan Mortgage Corp (FHLMC)	0.130		12/04/12		73,695
			TOTAL GOVERNMENT AGENCY DEBT					115,453
TREASURY DEBT - 21.0%
	174,420,000	d	United States Treasury Bill	0.080-0.104		10/11/12		174,416
	620,375,000	d	United States Treasury Bill	0.080-0.133		10/18/12		620,349
	145,800,000	d	United States Treasury Bill	0.113		11/01/12		145,786
	66,000,000	d	United States Treasury Bill	0.090		11/08/12		65,994
	200,000,000	d	United States Treasury Bill	0.113		11/15/12		199,972
	2,270,000		United States Treasury Bill	0.075		11/29/12		2,270

335

COLLEGE RETIREMENT EQUITIES FUND - Bond Market Account

PRINCIPAL			ISSUER	RATE		MATURITY DATE	VALUE (000)
$	117,900,000	d	United States Treasury Bill	0.090-0.098	%	12/06/12	$	117,883
	400,000,000	d	United States Treasury Bill	0.090-0.121		12/13/12		399,933
	193,500,000	d	United States Treasury Bill	0.112-0.120		12/20/12		193,465
	87,900,000	d	United States Treasury Bill	0.068-0.128		01/17/13		87,880
	184,600,000	d	United States Treasury Bill	0.105-0.110		01/24/13		184,554
	100,000,000	d	United States Treasury Bill	0.131		01/31/13		99,969
	64,470,000	d	United States Treasury Bill	0.092-0.126		02/07/13		64,446
	237,500,000	d	United States Treasury Bill	0.116-0.121		02/14/13		237,403
	50,000,000		United States Treasury Bill	0.118		02/21/13		49,978
	166,000,000	d	United States Treasury Bill	0.110		02/28/13		165,913
	200,000,000	d	United States Treasury Bill	0.135		03/07/13		199,887
			TOTAL TREASURY DEBT					3,010,098
			TOTAL SHORT-TERM INVESTMENTS					3,125,551
			(Cost $3,125,461)
			TOTAL INVESTMENTS - 119.9%					17,213,234
			(Cost $16,527,763)
			OTHER ASSETS & LIABILITIES, NET - (19.9)%					(2,855,853	)
			NET ASSETS - 100.0%				$	14,357,381
			Abbreviation(s):
	REIT		Real Estate Investment Trust
	*		Non-income producing.
	^		Amount represents less than $1,000.
	d		All or a portion of these securities have been segregated by the custodian to cover collateral requirements on mortgage dollar rolls.
	g		Security is exempt from registration under Rule 144(A) of the Securities Act of 1933 and may be resold in transactions exempt from registration to qualified institutional buyers. At September 30, 2012 the aggregate value of these securities amounted to $1,412,420,000 or 9.8% of net assets.
	h		All or a portion of these securities were purchased on a delayed delivery basis.
	i		Floating or variable rate security. Coupon rate reflects the rate at period end.
	j		Zero coupon
	l		All or a portion of these securities have been segregated by the custodian to cover requirements on swap agreements.
	m		Indicates a security that has been deemed illiquid.
			Cost amounts are in thousands.

336

COLLEGE RETIREMENT EQUITIES FUND - Inflation-Linked Bond Account

COLLEGE RETIREMENT EQUITIES FUND
INFLATION-LINKED BOND
SCHEDULE OF INVESTMENTS (unaudited)
September 30, 2012

PRINCIPAL			ISSUER	VALUE (000)
GOVERNMENT BONDS - 99.3%
U.S. TREASURY SECURITIES - 99.3%
		k	United States Treasury Inflation Indexed Bonds
$	32,436,068		1.875%, 07/15/13	$	33,391
	353,822,093		2.000%, 01/15/14		369,412
	239,581,593		1.250%, 04/15/14		249,090
	334,472,461		2.000%, 07/15/14		356,736
	303,487,237		1.625%, 01/15/15		325,277
	296,872,992		0.500%, 04/15/15		311,902
	286,941,312		1.875%, 07/15/15		315,613
	274,105,157		2.000%, 01/15/16		307,255
	445,717,200		0.125%, 04/15/16		472,356
	277,472,783		2.500%, 07/15/16		322,150
	257,343,329		2.375%, 01/15/17		301,836
	284,406,691		0.125%, 04/15/17		306,382
	211,144,770		2.625%, 07/15/17		255,139
	234,095,783		1.625%, 01/15/18		273,910
	220,575,000		1.375%, 07/15/18		258,555
	218,232,175		2.125%, 01/15/19		267,795
	230,705,750		1.875%, 07/15/19		283,408
	260,959,776		1.375%, 01/15/20		312,234
	287,470,205		1.250%, 07/15/20		343,684
	398,465,247		1.125%, 01/15/21		471,714
	402,354,448		0.625%, 07/15/21		460,602
	289,494,694		0.125%, 01/15/22		316,001
	213,212,480		0.125%, 07/15/22		232,985
	381,979,887		2.375%, 01/15/25		518,478
	273,383,675		2.000%, 01/15/26		359,200
	217,796,121		2.375%, 01/15/27		300,627
	218,620,635		1.750%, 01/15/28		283,063
	257,851,154		3.625%, 04/15/28		409,278
	207,987,535		2.500%, 01/15/29		297,503
	288,344,662		3.875%, 04/15/29		478,675
	82,946,808		3.375%, 04/15/32		137,718
	167,115,306		2.125%, 02/15/40		243,910
	222,744,496		2.125%, 02/15/41		327,208
	179,979,675		0.750%, 02/15/42		195,545
			TOTAL U.S. TREASURY SECURITIES		10,698,632
			TOTAL GOVERNMENT BONDS
			(Cost $9,078,441)		10,698,632

337

COLLEGE RETIREMENT EQUITIES FUND - Inflation-Linked Bond Account

PRINCIPAL		ISSUER	VALUE (000)
SHORT-TERM INVESTMENTS - 0.3%
TREASURY DEBT - 0.3%
		United States Treasury Bill
$	3,180,000	0.080%, 12/13/12	$	3,179
	15,000,000	0.047%, 11/15/12		14,999
	11,500,000	0.050%-0.074%, 10/18/12		11,500
		TOTAL TREASURY DEBT		29,678
		TOTAL SHORT-TERM INVESTMENTS		29,678
		(Cost $29,678)
		TOTAL INVESTMENTS - 99.6%		10,728,310
		(Cost $9,108,119)
		OTHER ASSETS AND LIABILITIES, NET - 0.4%		42,714
		NET ASSETS - 100.0%	$	10,771,024

k Principal amount for interest accrual purposes is periodically adjusted based on changes in the Consumer Price Index.

Cost amounts are in thousands.

338

COLLEGE RETIREMENT EQUITIES FUND - Social Choice Account

COLLEGE RETIREMENT EQUITIES FUND
SOCIAL CHOICE ACCOUNT
SCHEDULE OF INVESTMENTS (unaudited)
September 30, 2012

PRINCIPAL			ISSUER	RATE		MATURITY DATE	VALUE (000)
BONDS - 37.6%
CORPORATE BONDS - 12.8%
AUTOMOBILES & COMPONENTS - 0.1%
$	2,350,000		BorgWarner, Inc	4.625	%	09/15/20	$	2,612
	4,750,000	e	Johnson Controls, Inc	2.600		12/01/16		4,989
	3,250,000		Johnson Controls, Inc	5.000		03/30/20		3,698
			TOTAL AUTOMOBILES & COMPONENTS					11,299
BANKS - 2.3%
	5,000,000	g	Bank of Montreal	2.625		01/25/16		5,329
	6,120,000	g	Bank of Nova Scotia	1.450		07/26/13		6,176
	14,090,000	e,g	Bank of Nova Scotia	1.650		10/29/15		14,551
	9,800,000	g	Bank of Nova Scotia	2.150		08/03/16		10,324
	5,000,000		BB&T Corp	3.375		09/25/13		5,136
	19,500,000		BB&T Corp	2.150		03/22/17		20,238
	7,375,000		BB&T Corp	1.600		08/15/17		7,508
	19,500,000		BB&T Corp	3.950		03/22/22		21,195
	4,000,000	e,g	Caisse Centrale Desjardins du Quebec	2.550		03/24/16		4,253
	14,750,000	e,g	Caisse Centrale Desjardins du Quebec	1.600		03/06/17		15,207
	9,000,000	g	Canadian Imperial Bank of Commerce	2.000		02/04/13		9,054
	7,000,000	g	Canadian Imperial Bank of Commerce	2.750		01/27/16		7,493
	5,000,000		Capital One Bank USA NA	8.800		07/15/19		6,599
	3,500,000		Capital One Capital V	8.875		05/15/40		3,559
	8,800,000	g	Depfa ACS Bank	5.125		03/16/37		6,557
	2,375,000		Discover Bank	7.000		04/15/20		2,861
	8,750,000		First Horizon National Corp	5.375		12/15/15		9,573
	10,400,000		Manufacturers & Traders Trust Co	6.625		12/04/17		12,528
	4,644,000	i	Manufacturers & Traders Trust Co	5.585		12/28/20		4,631
	6,076,000	i	Manufacturers & Traders Trust Co	5.629		12/01/21		6,050
	5,000,000		Mercantile Bankshares Corp	4.625		04/15/13		5,097
	5,000,000		PNC Funding Corp	3.625		02/08/15		5,312
	4,750,000		PNC Funding Corp	2.700		09/19/16		5,064
	5,000,000		PNC Funding Corp	5.125		02/08/20		5,925
	6,744,000	e	SVB Financial Group	5.375		09/15/20		7,671
	11,000,000	g	Toronto-Dominion Bank	1.625		09/14/16		11,372
	3,000,000		US Bancorp	4.950		10/30/14		3,256
	5,000,000	e	US Bancorp	2.875		11/20/14		5,248
	14,500,000		US Bancorp	1.650		05/15/17		14,844
	6,300,000		US Bancorp	3.000		03/15/22		6,595
	4,200,000		US Bancorp	2.950		07/15/22		4,240
	3,750,000	i	US Bank NA	0.735		10/14/14		3,741
			TOTAL BANKS					257,187
CAPITAL GOODS - 0.4%
	5,000,000		Danaher Corp	1.300		06/23/14		5,078

339

COLLEGE RETIREMENT EQUITIES FUND - Social Choice Account

PRINCIPAL			ISSUER	RATE		MATURITY DATE	VALUE (000)
$	5,000,000		Danaher Corp	2.300	%	06/23/16	$	5,262
	1,800,000		Deere & Co	5.375		10/16/29		2,307
	4,340,000		Deere & Co	8.100		05/15/30		6,685
	6,000,000		Fluor Corp	3.375		09/15/21		6,376
	3,150,000		Masco Corp	7.125		03/15/20		3,586
	5,155,000		Pall Corp	5.000		06/15/20		5,891
	3,300,000		Rockwell Collins, Inc	3.100		11/15/21		3,501
	5,000,000		Timken Co	6.000		09/15/14		5,392
			TOTAL CAPITAL GOODS					44,078
COMMERCIAL & PROFESSIONAL SERVICES - 0.1%
	2,675,000	g	ADT Corp	2.250		07/15/17		2,753
	5,000,000		Howard Hughes Medical Institute	3.450		09/01/14		5,291
	4,750,000		Waste Management, Inc	2.600		09/01/16		4,986
	2,730,000		Waste Management, Inc	4.600		03/01/21		3,110
			TOTAL COMMERCIAL & PROFESSIONAL SERVICES					16,140
CONSUMER DURABLES & APPAREL - 0.1%
	1,100,000		Whirlpool Corp	8.600		05/01/14		1,223
	9,500,000		Whirlpool Corp	4.700		06/01/22		9,807
			TOTAL CONSUMER DURABLES & APPAREL					11,030
CONSUMER SERVICES - 0.3%
	2,000,000		American National Red Cross	5.392		11/15/12		2,002
	4,000,000		American National Red Cross	5.567		11/15/17		4,278
	5,000,000		Andrew W Mellon Foundation	3.950		08/01/14		5,325
	1,250,000		McDonald’s Corp	5.000		02/01/19		1,477
	7,550,000		Nature Conservancy	6.300		07/01/19		9,260
	5,145,000		Salvation Army	5.637		09/01/26		5,857
			TOTAL CONSUMER SERVICES					28,199
DIVERSIFIED FINANCIALS - 1.8%
	1,675,000		American Express Co	7.000		03/19/18		2,120
	9,500,000		American Express Credit Corp	2.375		03/24/17		9,993
	5,000,000		Bank of New York Mellon Corp	3.100		01/15/15		5,283
	4,750,000		Bank of New York Mellon Corp	1.200		02/20/15		4,814
	5,000,000	e	Bank of New York Mellon Corp	2.950		06/18/15		5,311
	6,750,000		Bank of New York Mellon Corp	2.300		07/28/16		7,075
	5,450,000		Bank of New York Mellon Corp	1.969		06/20/17		5,641
	2,675,000		Bank of New York Mellon Corp	5.450		05/15/19		3,179
	4,750,000	i	Berkshire Hathaway, Inc	1.135		08/15/14		4,808
	4,750,000		Berkshire Hathaway, Inc	2.200		08/15/16		4,991
	7,275,000		Berkshire Hathaway, Inc	1.900		01/31/17		7,533
	2,850,000		BlackRock, Inc	1.375		06/01/15		2,904
	5,000,000		BlackRock, Inc	4.250		05/24/21		5,599
	4,750,000	i	Capital One Financial Corp	1.605		07/15/14		4,783
	6,500,000		Capital One Financial Corp	2.125		07/15/14		6,632
	9,500,000		Capital One Financial Corp	2.150		03/23/15		9,741
	7,250,000		Capital One Financial Corp	3.150		07/15/16		7,699
	5,000,000		Ford Motor Credit Co LLC	3.875		01/15/15		5,225
	5,900,000		Ford Motor Credit Co LLC	7.000		04/15/15		6,608
	8,600,000		Ford Motor Credit Co LLC	5.000		05/15/18		9,389

340

COLLEGE RETIREMENT EQUITIES FUND - Social Choice Account

PRINCIPAL			ISSUER	RATE		MATURITY DATE	VALUE (000)
$	4,000,000		Ford Motor Credit Co LLC	4.250	%	09/20/22	$	4,099
	9,750,000	g	Harley-Davidson Financial Services, Inc	2.700		03/15/17		10,093
	5,000,000		John Deere Capital Corp	1.250		12/02/14		5,078
	9,475,000		John Deere Capital Corp	0.875		04/17/15		9,541
	7,000,000	e	John Deere Capital Corp	0.700		09/04/15		7,013
	4,155,000		John Deere Capital Corp	2.250		06/07/16		4,351
	10,000,000	e	KFW	2.625		01/25/22		10,530
	6,100,000		Northern Trust Corp	4.625		05/01/14		6,489
	16,000,000		Royal Bank of Canada	1.200		09/19/17		16,101
	3,000,000		State Street Corp	4.300		05/30/14		3,183
			TOTAL DIVERSIFIED FINANCIALS					195,806
ENERGY - 1.0%
	4,450,000		Apache Corp	1.750		04/15/17		4,595
	10,000,000		Apache Corp	3.250		04/15/22		10,750
	10,000,000		Apache Corp	4.750		04/15/43		11,427
	4,145,000		Continental Resources, Inc	5.000		09/15/22		4,321
	4,475,000		Devon Energy Corp	1.875		05/15/17		4,562
	2,500,000		Devon Energy Corp	6.300		01/15/19		3,104
	6,000,000		Devon Energy Corp	4.750		05/15/42		6,429
	5,000,000		EOG Resources, Inc	2.950		06/01/15		5,281
	3,000,000	e	EOG Resources, Inc	4.100		02/01/21		3,410
	8,075,000		EOG Resources, Inc	2.625		03/15/23		8,162
	4,750,000		EQT Corp	4.875		11/15/21		4,995
	2,500,000		Hess Corp	8.125		02/15/19		3,308
	3,000,000		Hess Corp	6.000		01/15/40		3,640
	2,000,000		Hess Corp	5.600		02/15/41		2,320
	1,526,000		Marathon Oil Corp	5.900		03/15/18		1,848
	2,975,000		Newfield Exploration Co	5.625		07/01/24		3,302
	2,500,000		Noble Energy, Inc	8.250		03/01/19		3,237
	2,825,000		Noble Holding International Ltd	2.500		03/15/17		2,914
	2,150,000		Noble Holding International Ltd	3.950		03/15/22		2,256
	5,725,000	g	Southwestern Energy Co	4.100		03/15/22		6,076
	6,175,000		Weatherford International Ltd	4.500		04/15/22		6,458
	7,000,000		Weatherford International Ltd	5.950		04/15/42		7,364
			TOTAL ENERGY					109,759
FOOD & STAPLES RETAILING - 0.1%
	4,750,000		Kroger Co	2.200		01/15/17		4,865
	7,250,000		Safeway, Inc	3.400		12/01/16		7,591
			TOTAL FOOD & STAPLES RETAILING					12,456
FOOD, BEVERAGE & TOBACCO - 0.4%
	6,500,000	i	Campbell Soup Co	0.743		08/01/14		6,530
	5,900,000		Coca-Cola Enterprises, Inc	1.125		11/12/13		5,933
	7,650,000		HJ Heinz Co	2.000		09/12/16		7,940
	1,600,000	g	HJ Heinz Finance Co	7.125		08/01/39		2,214
	5,000,000		Kellogg Co	1.875		11/17/16		5,164
	2,500,000		Kellogg Co	4.150		11/15/19		2,839
	4,900,000		Kellogg Co	4.000		12/15/20		5,493
	5,000,000		Kraft Foods, Inc	2.625		05/08/13		5,058
	5,000,000		PepsiCo, Inc	2.500		05/10/16		5,277
	428,000		PepsiCo, Inc	7.900		11/01/18		580
			TOTAL FOOD, BEVERAGE & TOBACCO					47,028

341

COLLEGE RETIREMENT EQUITIES FUND - Social Choice Account

PRINCIPAL			ISSUER	RATE		MATURITY DATE	VALUE (000)
HEALTH CARE EQUIPMENT & SERVICES - 0.3%
$	9,500,000		Baxter International, Inc	2.400	%	08/15/22	$	9,568
	4,000,000		Becton Dickinson & Co	5.000		05/15/19		4,741
	2,000,000		Becton Dickinson & Co	6.000		05/15/39		2,714
	4,750,000		Becton Dickinson and Co	1.750		11/08/16		4,916
	3,500,000		Medtronic, Inc	4.750		09/15/15		3,918
	2,500,000		Medtronic, Inc	6.500		03/15/39		3,638
	5,000,000		Providence Health & Services	5.050		10/01/14		5,422
			TOTAL HEALTH CARE EQUIPMENT & SERVICES					34,917
HOUSEHOLD & PERSONAL PRODUCTS - 0.1%
	3,750,000		Clorox Co	3.800		11/15/21		4,026
	4,500,000		Colgate-Palmolive Co	2.300		05/03/22		4,559
	2,250,000		Ecolab, Inc	4.350		12/08/21		2,553
			TOTAL HOUSEHOLD & PERSONAL PRODUCTS					11,138
INSURANCE - 0.3%
	3,500,000		Cincinnati Financial Corp	6.125		11/01/34		3,974
	2,000,000		Markel Corp	6.800		02/15/13		2,038
	2,500,000		Markel Corp	7.125		09/30/19		3,008
	7,000,000		Markel Corp	4.900		07/01/22		7,396
	2,500,000	g	Principal Life Global Funding I	5.125		10/15/13		2,610
	3,100,000		Progressive Corp	3.750		08/23/21		3,444
	10,450,000	i	Prudential Financial, Inc	5.875		09/15/42		10,712
	2,000,000		Travelers Cos, Inc	5.900		06/02/19		2,493
			TOTAL INSURANCE					35,675
MATERIALS - 0.7%
	2,500,000		3M Co	6.375		02/15/28		3,393
	3,335,000		Air Products & Chemicals, Inc	4.375		08/21/19		3,833
	4,750,000		Air Products & Chemicals, Inc	3.000		11/03/21		5,006
	6,817,000	e	Alcoa, Inc	5.400		04/15/21		7,155
	1,000,000		Ball Corp	6.750		09/15/20		1,100
	2,275,000		Ball Corp	5.000		03/15/22		2,383
	4,000,000		Bemis Co, Inc	6.800		08/01/19		4,867
	4,408,000		Cliffs Natural Resources, Inc	4.800		10/01/20		4,326
	7,750,000		Domtar Corp	4.400		04/01/22		7,935
	2,300,000		Eastman Chemical Co	5.500		11/15/19		2,697
	2,650,000		International Paper Co	7.300		11/15/39		3,508
	5,000,000		International Paper Co	6.000		11/15/41		6,093
	5,000,000		MeadWestvaco Corp	7.375		09/01/19		6,343
	5,000,000		Praxair, Inc	4.375		03/31/14		5,286
	2,500,000		Praxair, Inc	5.250		11/15/14		2,736
	5,000,000		Praxair, Inc	4.500		08/15/19		5,794
	4,875,000		Praxair, Inc	2.450		02/15/22		4,904
	2,850,000	g	Rock-Tenn Co	3.500		03/01/20		2,904
	2,850,000	g	Rock-Tenn Co	4.000		03/01/23		2,896
			TOTAL MATERIALS					83,159

342

COLLEGE RETIREMENT EQUITIES FUND - Social Choice Account

PRINCIPAL			ISSUER	RATE		MATURITY DATE	VALUE (000)
MEDIA - 0.4%
$	4,450,000		Discovery Communications LLC	3.300	%	05/15/22	$	4,622
	2,825,000		Discovery Communications LLC	4.950		05/15/42		3,078
	3,500,000	e	Time Warner Cable, Inc	3.500		02/01/15		3,718
	3,200,000		Time Warner Cable, Inc	8.750		02/14/19		4,357
	3,900,000		Time Warner Cable, Inc	8.250		04/01/19		5,235
	5,000,000		Time Warner Cable, Inc	4.125		02/15/21		5,528
	5,000,000		Time Warner Cable, Inc	4.000		09/01/21		5,513
	3,500,000		Time Warner Cable, Inc	6.550		05/01/37		4,398
	5,000,000		Time Warner Cable, Inc	5.500		09/01/41		5,657
	8,000,000		Time Warner Cable, Inc	4.500		09/15/42		7,977
			TOTAL MEDIA					50,083
PHARMACEUTICALS, BIOTECHNOLOGY & LIFE SCIENCES - 0.4%
	3,100,000		Abbott Laboratories	2.700		05/27/15		3,279
	2,695,000		Bristol-Myers Squibb Co	3.250		08/01/42		2,497
	2,250,000		Gilead Sciences, Inc	4.400		12/01/21		2,557
	10,000,000	i	Johnson & Johnson	0.525		05/15/14		10,029
	4,600,000		Johnson & Johnson	2.150		05/15/16		4,848
	4,600,000		Johnson & Johnson	4.500		09/01/40		5,492
	8,080,000		Life Technologies Corp	3.500		01/15/16		8,505
	5,000,000		Merck & Co, Inc	2.250		01/15/16		5,250
			TOTAL PHARMACEUTICALS, BIOTECHNOLOGY & LIFE SCIENCES					42,457
REAL ESTATE - 0.4%
	1,000,000		AMB Property LP	7.625		08/15/14		1,097
	3,500,000		Boston Properties LP	3.850		02/01/23		3,686
	4,500,000		Duke Realty LP	3.875		10/15/22		4,576
	1,400,000		Federal Realty Investment Trust	5.900		04/01/20		1,667
	5,500,000		Federal Realty Investment Trust	3.000		08/01/22		5,473
	3,665,000		Health Care REIT, Inc	3.625		03/15/16		3,869
	3,400,000		Healthcare Realty Trust, Inc	5.750		01/15/21		3,744
	2,500,000		Kilroy Realty Corp	5.000		11/03/15		2,715
	3,400,000		Kilroy Realty LP	4.800		07/15/18		3,758
	3,125,000		Simon Property Group LP	2.800		01/30/17		3,290
	5,750,000		Washington Real Estate Investment Trust	5.125		03/15/13		5,816
			TOTAL REAL ESTATE					39,691
RETAILING - 0.3%
	5,000,000		AutoZone, Inc	5.750		01/15/15		5,524
	4,750,000		Lowe’s Companies, Inc	1.625		04/15/17		4,845
	4,750,000		Lowe’s Companies, Inc	3.120		04/15/22		4,926
	4,750,000		Lowe’s Companies, Inc	4.650		04/15/42		5,177
	3,050,000		Macy’s Retail Holdings, Inc	5.900		12/01/16		3,561
	2,945,000		O’Reilly Automotive, Inc	4.625		09/15/21		3,211
	1,150,000		O’Reilly Automotive, Inc	3.800		09/01/22		1,192
	4,350,000		Target Corp	1.125		07/18/14		4,405
			TOTAL RETAILING					32,841

343

COLLEGE RETIREMENT EQUITIES FUND - Social Choice Account

PRINCIPAL			ISSUER	RATE		MATURITY DATE	VALUE (000)
SEMICONDUCTORS & SEMICONDUCTOR EQUIPMENT - 0.2%
$	4,750,000		Intel Corp	1.950	%	10/01/16	$	4,987
	7,500,000		Texas Instruments, Inc	2.375		05/16/16		7,931
			TOTAL SEMICONDUCTORS & SEMICONDUCTOR EQUIPMENT					12,918
SOFTWARE & SERVICES - 0.3%
	5,000,000		Adobe Systems, Inc	3.250		02/01/15		5,273
	9,750,000		International Business Machines Corp	0.550		02/06/15		9,774
	8,055,000		International Business Machines Corp	1.950		07/22/16		8,413
	5,250,000		International Business Machines Corp	1.250		02/06/17		5,337
			TOTAL SOFTWARE & SERVICES					28,797
TECHNOLOGY HARDWARE & EQUIPMENT - 0.2%
	4,750,000	i	Hewlett-Packard Co	1.931		09/19/14		4,807
	5,000,000		Xerox Corp	8.250		05/15/14		5,546
	9,750,000	i	Xerox Corp	1.257		05/16/14		9,737
	4,000,000		Xerox Corp	2.950		03/15/17		4,133
			TOTAL TECHNOLOGY HARDWARE & EQUIPMENT					24,223
TELECOMMUNICATION SERVICES - 0.1%
	4,750,000		American Tower REIT, Inc	5.900		11/01/21		5,635
	3,235,000		Sprint Nextel Corp	6.000		12/01/16		3,332
			TOTAL TELECOMMUNICATION SERVICES					8,967
TRANSPORTATION - 0.8%
	9,750,000		Burlington Northern Santa Fe LLC	3.050		03/15/22		10,077
	4,600,000		Burlington Northern Santa Fe LLC	5.050		03/01/41		5,316
	2,100,000		Burlington Northern Santa Fe LLC	4.950		09/15/41		2,388
	8,550,000		Burlington Northern Santa Fe LLC	4.400		03/15/42		9,033
	6,500,000		CSX Corp	4.750		05/30/42		7,068
	3,850,000		CSX Corp	4.400		03/01/43		3,950
	2,500,000		Norfolk Southern Corp	5.750		01/15/16		2,870
	5,000,000		Norfolk Southern Corp	3.250		12/01/21		5,258
	12,775,000		Norfolk Southern Corp	3.000		04/01/22		13,260
	6,894,000	g	Norfolk Southern Corp	2.903		02/15/23		6,995
	475,000		Norfolk Southern Corp	5.590		05/17/25		588
	1,360,000		United Parcel Service of America, Inc (Step Bond 8.375% until 04/01/20, 7.620% until 04/01/30)	8.375		04/01/30		2,082
	4,200,000		United Parcel Service, Inc	1.125		10/01/17		4,219
	5,000,000		United Parcel Service, Inc	3.125		01/15/21		5,397
	6,725,000		United Parcel Service, Inc	2.450		10/01/22		6,786
			TOTAL TRANSPORTATION					85,287
UTILITIES - 1.7%
	7,850,000		American Water Capital Corp	6.085		10/15/17		9,373
	1,667,000		Arizona Public Service Co	5.050		09/01/41		1,929
	2,000,000		Atmos Energy Corp	8.500		03/15/19		2,670
	1,200,000		Connecticut Light & Power Co	5.500		02/01/19		1,442
	2,000,000		Connecticut Light & Power Co	5.750		03/01/37		2,518
	9,400,000		Delmarva Power & Light Co	4.000		06/01/42		9,877
	8,000,000		Detroit Edison Co	3.900		06/01/21		9,009
	5,000,000	i	DTE Energy Co	1.118		06/03/13		5,014
	2,254,413	g	Great River Energy	5.829		07/01/17		2,441

344

COLLEGE RETIREMENT EQUITIES FUND - Social Choice Account

PRINCIPAL			ISSUER	RATE		MATURITY DATE	VALUE (000)
$	9,500,000		Idaho Power Co	2.950	%	04/01/22	$	9,782
	5,000,000		Idaho Power Co	5.500		04/01/33		6,069
	2,500,000		Idaho Power Co	6.250		10/15/37		3,377
	4,500,000		Idaho Power Co	4.300		04/01/42		4,758
	7,500,000	g	International Transmission Co	4.450		07/15/13		7,711
	2,000,000		Laclede Gas Co	6.150		06/01/36		2,455
	6,000,000		Nevada Power Co	6.650		04/01/36		8,276
	5,000,000		Northeast Utilities	5.650		06/01/13		5,167
	10,000,000	i	Northeast Utilities	1.129		09/20/13		10,059
	1,500,000		Northwest Natural Gas Co	5.620		11/21/23		1,857
	5,000,000		Pacific Gas & Electric Co	8.250		10/15/18		6,866
	3,750,000		Pacific Gas & Electric Co	5.400		01/15/40		4,641
	5,000,000		Pacific Gas & Electric Co	4.450		04/15/42		5,465
	3,000,000		Pepco Holdings, Inc	2.700		10/01/15		3,119
	3,850,000		Portland General Electric Co	6.100		04/15/19		4,802
	630,000		Public Service Co of Colorado	4.750		08/15/41		747
	5,500,000		San Diego Gas & Electric Co	3.000		08/15/21		5,881
	620,000		San Diego Gas & Electric Co	6.000		06/01/39		865
	1,380,000		San Diego Gas & Electric Co	3.950		11/15/41		1,468
	10,000,000		Sempra Energy	2.300		04/01/17		10,465
	5,000,000		Spectra Energy Capital LLC	5.650		03/01/20		5,897
	2,500,000		Tampa Electric Co	4.100		06/15/42		2,603
	2,500,000	e	Tennessee Gas Pipeline Co	8.000		02/01/16		2,975
	5,000,000	g	Texas Eastern Transmission LP	4.125		12/01/20		5,481
	14,500,000	g	Topaz Solar Farms LLC	5.750		09/30/39		14,987
	5,000,000		Washington Gas Light Co	5.440		08/11/25		6,040
	4,875,000		Westar Energy, Inc	4.125		03/01/42		5,285
			TOTAL UTILITIES					191,371
			TOTAL CORPORATE BONDS					1,414,506
			(Cost $1,315,239)
GOVERNMENT BONDS 23.3%
AGENCY SECURITIES - 3.9%
	7,191,603		Cal Dive I- Title XI, Inc	4.930		02/01/27		8,386
	8,095,584		COP I LLC	3.613		12/05/21		8,757
	5,500,000		Federal Home Loan Bank (FHLB)	5.000		11/17/17		6,658
	4,635,000		Federal Home Loan Mortgage Corp (FHLMC)	2.500		04/23/14		4,798
	5,000,000		FHLMC	1.000		09/29/17		5,051
	6,000,000		Federal National Mortgage Association (FNMA)	1.250		08/20/13		6,054
	3,000,000		FNMA	2.500		05/15/14		3,108
	10,000,000		FNMA	2.625		11/20/14		10,499
	6,400,000		FNMA	1.125		04/27/17		6,518
	7,915,049		Gate Capital Cayman Two	3.550		06/11/21		8,617
	4,000,000	j	Government Trust Certificate	0.000		04/01/21		3,274
	2,800,000	j	Overseas Private Investment Corp (OPIC)	0.000		07/12/14		2,808
	3,850,000	j	OPIC	0.000		07/12/14		4,088
	4,700,000	j	OPIC	0.000		07/12/14		5,368
	267,881	j	OPIC	0.000		12/14/14		315
	14,500,000	j	OPIC	0.000		11/17/16		14,977

345

COLLEGE RETIREMENT EQUITIES FUND - Social Choice Account

PRINCIPAL			ISSUER	RATE		MATURITY DATE	VALUE (000)
$	12,750,000	j	OPIC	0.000	%	11/17/16	$	13,319
	3,000,000		OPIC	1.900		04/30/18		3,082
	12,000,000		OPIC	1.030		04/15/19		12,061
	2,651,786	m	OPIC	1.300		06/15/19		2,687
	3,742,182		OPIC	5.142		12/15/23		4,391
	6,294,942		OPIC	2.290		09/15/26		6,443
	3,579,255		OPIC	2.040		12/15/26		3,658
	8,582,753		OPIC	4.440		02/27/27		10,025
	12,000,000		OPIC	2.610		04/15/30		11,974
	4,750,000		OPIC	2.930		05/15/30		4,881
	7,850,000		OPIC	3.040		05/15/30		8,146
	5,000,000		OPIC	3.430		05/15/30		5,368
	4,750,000		OPIC	4.010		05/15/30		5,354
	1,050,000		Private Export Funding Corp (PEFCO)	4.550		05/15/15		1,165
	9,750,000		PEFCO	2.125		07/15/16		10,289
	26,250,000		PEFCO	1.375		02/15/17		26,788
	8,000,000		PEFCO	2.250		12/15/17		8,547
	5,000,000		PEFCO	4.375		03/15/19		6,010
	4,000,000		PEFCO	1.450		08/15/19		4,034
	17,500,000		PEFCO	4.300		12/15/21		21,016
	1,500,000		US Department of Housing and Urban Development (HUD)	5.050		08/01/13		1,561
	9,000,000		HUD	5.190		08/01/14		9,806
	1,900,000		HUD	2.200		08/01/15		1,997
	5,250,000		HUD	4.330		08/01/15		5,823
	3,894,000		HUD	2.910		08/01/17		4,281
	8,000,000		HUD	4.560		08/01/17		9,336
	10,750,000		HUD	1.770		08/01/18		11,195
	5,007,000		HUD	5.380		08/01/18		5,857
	13,967,000		HUD	4.960		08/01/20		17,298
	13,500,000		HUD	5.050		08/01/21		16,614
	10,875,000	i	India Government AID Bond	0.545		02/01/27		9,982
	10,000,000		Lutheran Medical Center	1.982		02/20/30		9,900
	4,730,000	g	Montefiore Medical Center	3.896		05/20/27		5,235
	1,168,714		National Credit Union Administration	1.840		10/07/20		1,189
	6,017,375		Premier Aircraft Leasing	3.576		02/06/22		6,603
	4,121,384		Tayarra Ltd	3.628		02/15/22		4,535
	4,032,915		Tricahue Leasing LLC	3.503		11/19/21		4,302
	31,044,000		Tunisia Government AID Bonds	1.686		07/16/19		30,927
	3,758,353	g	US Trade Funding Corp	4.260		11/15/14		3,895
	9,500,000		VRG Linhas Aereas S.A.	1.000		06/30/14		9,587
			TOTAL AGENCY SECURITIES					438,437
FOREIGN GOVERNMENT BONDS - 3.2%
	3,900,000		Canada Government International Bond	2.375		09/10/14		4,060
	6,300,000	e	Canada Government International Bond	0.875		02/14/17		6,373
	24,750,000		Council of Europe Development Bank	1.500		01/15/15		25,274
	2,000,000		European Investment Bank	4.875		02/15/36		2,374
	14,500,000		Hydro Quebec	2.000		06/30/16		15,189
	10,200,000		Hydro Quebec	1.375		06/19/17		10,350
	6,082,000		Hydro Quebec	8.400		01/15/22		8,770
	24,500,000		International Finance Corp	2.250		04/28/14		25,269
	24,500,000		International Finance Corp	0.500		05/15/15		24,604
	2,850,000	e	Italy Government International Bond	5.375		06/12/17		2,986

346

COLLEGE RETIREMENT EQUITIES FUND - Social Choice Account

PRINCIPAL			ISSUER	RATE		MATURITY DATE	VALUE (000)
$	3,145,000	e,g	National Bank of Canada	1.650	%	01/30/14	$	3,198
	7,500,000	g	National Bank of Canada	2.200		10/19/16		7,931
	17,500,000	g	Province of Alberta Canada	1.000		06/21/17		17,719
	4,000,000		Province of British Columbia Canada	2.850		06/15/15		4,260
	12,000,000		Province of British Columbia Canada	2.100		05/18/16		12,656
	21,000,000		Province of British Columbia Canada	1.200		04/25/17		21,449
	14,500,000		Province of British Columbia Canada	2.650		09/22/21		15,434
	2,000,000		Province of Manitoba Canada	2.125		04/22/13		2,021
	10,000,000		Province of Manitoba Canada	1.375		04/28/14		10,163
	15,250,000		Province of Manitoba Canada	1.750		05/30/19		15,608
	19,500,000		Province of Manitoba Canada	2.100		09/06/22		19,575
	10,000,000		Province of New Brunswick Canada	2.750		06/15/18		10,822
	5,000,000		Province of Nova Scotia Canada	2.375		07/21/15		5,259
	8,700,000		Province of Ontario Canada	4.100		06/16/14		9,252
	8,100,000		Province of Ontario Canada	2.950		02/05/15		8,573
	9,450,000		Province of Ontario Canada	2.700		06/16/15		9,998
	15,000,000		Province of Ontario Canada	2.300		05/10/16		15,840
	6,000,000		Province of Ontario Canada	4.000		10/07/19		6,948
	5,000,000		Province of Ontario Canada	4.400		04/14/20		5,932
	10,000,000		Province of Quebec Canada	3.500		07/29/20		11,180
	10,000,000	e	Province of Quebec Canada	2.750		08/25/21		10,470
	5,000,000		Province of Quebec Canada	7.500		09/15/29		7,738
			TOTAL FOREIGN GOVERNMENT BONDS					357,275
MORTGAGE BACKED - 10.3%
	1,885,931	i	Federal Home Loan Mortgage Corp (FHLMC)	2.380		02/01/36		1,991
	3,190,070	i	FHLMC	2.853		07/01/36		3,432
	1,109,236	i	FHLMC	2.620		09/01/36		1,178
	4,188,778	i	FHLMC	2.653		09/01/36		4,525
	1,710,170	i	FHLMC	5.745		02/01/37		1,854
	4,126,908	i	FHLMC	2.848		03/01/37		4,433
	2,253,792	i	FHLMC	5.937		04/01/37		2,461
	1,742,527	i	FHLMC	3.405		08/01/37		1,874
	2,606,692	i	FHLMC	2.239		09/01/37		2,777
	126,094		Federal Home Loan Mortgage Corp Gold (FGLMC)	6.500		12/01/16		136
	229,570		FGLMC	6.000		12/01/17		251
	1,879,726		FGLMC	4.500		10/01/18		2,066
	2,151,091		FGLMC	4.500		11/01/18		2,364
	2,611,005		FGLMC	4.500		11/01/18		2,870
	3,166,646		FGLMC	4.500		01/01/19		3,480
	1,184,524		FGLMC	5.500		01/01/19		1,298
	1,106,280		FGLMC	5.000		02/01/19		1,214
	520,107		FGLMC	4.500		01/01/20		559
	161,287		FGLMC	4.500		07/01/20		177
	149,840		FGLMC	7.000		10/01/20		175
	1,246,863		FGLMC	4.500		06/01/21		1,342
	4,225,168		FGLMC	4.500		06/01/21		4,548
	803,324		FGLMC	4.500		03/01/23		862
	555,265		FGLMC	5.000		04/01/23		599
	13,656		FGLMC	7.000		05/01/23		16

347

COLLEGE RETIREMENT EQUITIES FUND - Social Choice Account

PRINCIPAL			ISSUER	RATE		MATURITY DATE	VALUE (000)
$	2,017,115		FGLMC	4.000	%	07/01/24	$	2,147
	669,786		FGLMC	4.500		09/01/24		719
	5,000,000	h	FGLMC	5.000		10/15/27		5,387
	48,048		FGLMC	8.000		01/01/31		59
	1,373,476		FGLMC	4.500		07/01/33		1,481
	2,297,303		FGLMC	5.500		09/01/33		2,540
	2,351,175		FGLMC	5.500		09/01/33		2,598
	3,899,701		FGLMC	5.500		12/01/33		4,289
	6,163,211		FGLMC	7.000		12/01/33		7,328
	1,058,780		FGLMC	6.000		09/01/34		1,175
	622,536		FGLMC	5.500		12/01/34		687
	1,209,406		FGLMC	6.000		05/01/35		1,346
	501,607		FGLMC	6.000		05/01/35		557
	677,156		FGLMC	6.000		05/01/35		752
	106,849		FGLMC	6.000		05/01/35		118
	198,495		FGLMC	6.000		05/01/35		220
	1,182,984		FGLMC	6.000		05/01/35		1,315
	2,508,101		FGLMC	7.000		05/01/35		2,982
	814,504		FGLMC	5.500		06/01/35		893
	1,236,806		FGLMC	6.000		08/01/35		1,365
	607,687		FGLMC	4.500		09/01/35		655
	561,718		FGLMC	5.000		10/01/35		611
	354,702		FGLMC	4.500		12/01/35		382
	521,357		FGLMC	5.000		02/01/36		568
	78,783		FGLMC	6.500		05/01/36		90
	857,226		FGLMC	6.500		10/01/36		977
	1,180,466		FGLMC	6.000		09/01/37		1,312
	1,090,208		FGLMC	6.500		11/01/37		1,243
	3,163,219		FGLMC	6.000		02/01/38		3,529
	654,147		FGLMC	6.000		11/01/38		719
	976,002		FGLMC	4.500		05/01/39		1,050
	3,633,775		FGLMC	4.000		06/01/39		3,908
	1,896,137		FGLMC	5.000		07/01/39		2,056
	6,210,703		FGLMC	6.000		07/01/39		6,928
	5,369,772		FGLMC	4.500		11/01/40		6,025
	6,023,119		FGLMC	4.500		12/01/40		6,714
	10,000,000	h	FGLMC	3.500		10/15/42		10,722
	9,000,000	h	FGLMC	4.000		10/15/42		9,674
	6,004		Federal National Mortgage Association (FNMA)	5.000		06/01/13		6
	2,540,745		FNMA	4.440		07/01/13		2,572
	3,442,619		FNMA	4.020		08/01/13		3,491
	1,377,115		FNMA	4.561		05/01/14		1,438
	3,920,514		FNMA	4.265		06/01/14		4,091
	2,843,116		FNMA	4.530		10/01/14		3,004
	2,984		FNMA	8.500		11/01/14		3
	73,855		FNMA	6.500		10/01/16		79
	394,830		FNMA	6.500		04/01/17		430
	851,394		FNMA	5.000		12/01/17		928
	159,534		FNMA	6.500		02/01/18		174
	166,274		FNMA	5.500		04/01/18		182
	29,553		FNMA	5.500		05/01/18		32
	2,747,018		FNMA	5.500		11/01/18		3,004

348

COLLEGE RETIREMENT EQUITIES FUND - Social Choice Account

PRINCIPAL			ISSUER	RATE		MATURITY DATE	VALUE (000)
$	1,772,361		FNMA	5.000	%	12/01/18	$	1,959
	1,707,560		FNMA	5.000		01/01/19		1,887
	176,327		FNMA	6.000		01/01/19		195
	196,559		FNMA	6.000		02/01/19		217
	600,000		FNMA	4.000		02/25/19		634
	67,341		FNMA	4.500		03/01/19		73
	303,910		FNMA	4.500		05/01/19		329
	540,967		FNMA	4.500		06/01/19		585
	593,525		FNMA	5.000		03/01/20		647
	269,042		FNMA	4.500		11/01/20		291
	695,878		FNMA	5.000		12/01/20		759
	955,597		FNMA	5.000		03/01/21		1,042
	1,989,770		FNMA	5.500		08/01/21		2,172
	756,160		FNMA	4.500		03/01/23		816
	25,120		FNMA	8.000		03/01/23		29
	1,933,477		FNMA	5.000		07/01/23		2,101
	100,974		FNMA	5.000		01/01/24		112
	318,082		FNMA	5.500		02/01/24		352
	1,472,470		FNMA	4.000		05/01/24		1,576
	58,656		FNMA	8.000		07/01/24		70
	1,357,099		FNMA	4.500		08/01/24		1,465
	5,601,974		FNMA	4.000		09/01/24		5,995
	7,261,303		FNMA	3.000		05/01/27		7,812
	27,000,000	h	FNMA	2.500		10/25/27		28,375
	17,000,000	h	FNMA	3.000		10/25/27		18,020
	13,000,000	h	FNMA	4.000		10/25/27		13,902
	8,000,000	h	FNMA	4.500		10/25/27		8,631
	996,470		FNMA	6.500		07/01/32		1,152
	158,369		FNMA	5.000		02/01/33		174
	2,291,807		FNMA	4.500		03/25/33		2,395
	716,379		FNMA	5.500		07/01/33		816
	897,838		FNMA	4.500		08/01/33		976
	661,248		FNMA	5.000		08/01/33		727
	244,726		FNMA	4.500		09/01/33		269
	512,043		FNMA	5.000		10/01/33		563
	733,160		FNMA	5.000		10/01/33		806
	1,120,022		FNMA	5.000		11/01/33		1,276
	1,882,719		FNMA	5.500		11/01/33		2,156
	1,473,027		FNMA	5.500		11/01/33		1,687
	1,432,730		FNMA	5.500		11/01/33		1,641
	1,044,560		FNMA	5.500		11/01/33		1,196
	1,192,672		FNMA	5.500		11/01/33		1,360
	181,859		FNMA	5.500		12/01/33		203
	543,186		FNMA	5.500		12/01/33		603
	90,302		FNMA	7.000		01/01/34		108
	216,831		FNMA	5.000		03/01/34		238
	247,791		FNMA	5.000		03/01/34		272
	182,636		FNMA	5.000		03/01/34		201
	566,056		FNMA	5.000		03/01/34		622
	1,801,366		FNMA	5.000		04/01/34		1,969
	23,408		FNMA	4.500		05/01/34		25
	22,112		FNMA	4.500		05/01/34		24

349

COLLEGE RETIREMENT EQUITIES FUND - Social Choice Account

PRINCIPAL			ISSUER	RATE		MATURITY DATE	VALUE (000)
$	459,361		FNMA	4.500	%	05/01/34	$	499
	21,768		FNMA	4.500		06/01/34		24
	27,743		FNMA	4.500		06/01/34		30
	31,500		FNMA	4.500		06/01/34		34
	112,521		FNMA	4.500		06/01/34		122
	133,107		FNMA	4.500		07/01/34		144
	21,466		FNMA	4.500		07/01/34		23
	57,551		FNMA	4.500		07/01/34		62
	23,428		FNMA	4.500		08/01/34		25
	1,066,813		FNMA	4.500		08/01/34		1,158
	26,532		FNMA	4.500		09/01/34		29
	398,729		FNMA	6.000		12/01/34		450
	1,242,275		FNMA	5.500		01/01/35		1,375
	5,655,813		FNMA	5.500		01/01/35		6,441
	425,909		FNMA	5.500		03/01/35		485
	887,167		FNMA	5.500		04/01/35		1,010
	749,065		FNMA	5.500		04/01/35		853
	962,116		FNMA	5.500		04/01/35		1,096
	181,435		FNMA	5.500		05/01/35		200
	250,723		FNMA	5.500		05/01/35		276
	1,748,975		FNMA	5.500		05/01/35		1,984
	173,455		FNMA	5.500		05/01/35		191
	1,688,069		FNMA	6.000		05/01/35		1,904
	1,559,733		FNMA	5.500		06/01/35		1,776
	1,997,020		FNMA	5.500		06/01/35		2,274
	1,138,420		FNMA	5.500		06/01/35		1,296
	56,391		FNMA	7.500		06/01/35		63
	457,596		FNMA	6.000		07/01/35		514
	1,072,086		FNMA	4.500		08/01/35		1,162
	2,396,065		FNMA	5.000		08/01/35		2,623
	7,317,897		FNMA	4.000		10/01/35		7,995
	5,355,008		FNMA	5.500		10/01/35		6,076
	834,836	i	FNMA	2.703		02/01/36		895
	259,219		FNMA	6.500		02/01/36		296
	897,999		FNMA	6.500		02/01/36		1,022
	1,961,027		FNMA	6.000		03/01/36		2,170
	978,540	i	FNMA	2.760		07/01/36		1,050
	1,393,433		FNMA	6.500		09/01/36		1,581
	1,091,595		FNMA	6.000		12/01/36		1,208
	8,362,926	i	FNMA	5.850		01/01/37		9,065
	659,510		FNMA	7.000		02/01/37		788
	2,225,080		FNMA	6.500		03/01/37		2,528
	654,577		FNMA	7.000		04/01/37		782
	745,003		FNMA	6.500		08/01/37		845
	470,399		FNMA	6.500		08/01/37		533
	1,180,660		FNMA	6.000		09/01/37		1,338
	2,136,976		FNMA	6.000		09/01/37		2,422
	1,650,869		FNMA	6.000		09/01/37		1,871
	1,592,227		FNMA	6.000		09/01/37		1,800
	186,592		FNMA	6.500		09/01/37		211
	464,025		FNMA	6.500		09/01/37		529
	912,070		FNMA	6.500		09/01/37		1,039

350

COLLEGE RETIREMENT EQUITIES FUND - Social Choice Account

PRINCIPAL			ISSUER	RATE		MATURITY DATE	VALUE (000)
$	396,539		FNMA	6.500	%	09/01/37	$	448
	629,681	i	FNMA	4.589		10/01/37		677
	818,333		FNMA	7.000		11/01/37		977
	99,512		FNMA	6.500		01/01/38		113
	23,499		FNMA	6.500		02/01/38		27
	574,422		FNMA	6.500		03/01/38		655
	80,083		FNMA	6.500		03/01/38		91
	162,146		FNMA	6.500		03/01/38		185
	1,175,015	i	FNMA	4.916		10/01/38		1,265
	1,603,178		FNMA	4.500		01/01/39		1,736
	1,175,135		FNMA	5.500		01/01/39		1,289
	1,134,270		FNMA	6.000		01/01/39		1,253
	1,371,551		FNMA	6.000		01/01/39		1,515
	2,154,244		FNMA	4.500		02/01/39		2,332
	2,995,711		FNMA	4.000		04/01/39		3,335
	3,456,709		FNMA	4.500		04/01/39		3,743
	2,695,335		FNMA	4.500		08/01/39		2,918
	5,247,114		FNMA	5.500		08/01/39		5,911
	10,500,000		FNMA	4.000		02/25/40		11,486
	7,172,964		FNMA	4.000		11/01/40		7,738
	13,000,000	h	FNMA	3.000		10/25/42		13,723
	48,000,000	h	FNMA	3.500		10/25/42		51,480
	108,000,000	h	FNMA	4.000		10/25/42		116,353
	126,000,000	h	FNMA	4.500		10/25/42		136,374
	64,000,000	h	FNMA	5.000		10/25/42		69,810
	44,000,000	h	FNMA	5.500		10/25/42		48,235
	42,554		Government National Mortgage Association (GNMA)	9.000		12/15/17		48
	6,501,923		GNMA	2.300		10/15/19		6,747
	31,495		GNMA	8.000		06/15/22		37
	10,719		GNMA	6.500		08/15/23		12
	28,235		GNMA	6.500		08/15/23		33
	170,118		GNMA	6.500		05/20/31		199
	655,526		GNMA	5.500		07/15/33		734
	374,963		GNMA	6.000		10/20/36		425
	388,021		GNMA	6.000		01/20/37		440
	1,717,751		GNMA	5.500		02/15/37		1,912
	2,064,247		GNMA	6.000		02/20/37		2,339
	1,432,400		GNMA	5.000		04/15/38		1,580
	836,663		GNMA	6.000		08/15/38		946
	833,936		GNMA	6.000		08/20/38		943
	1,388,956		GNMA	6.500		11/20/38		1,601
	2,867,328		GNMA	4.500		03/15/39		3,159
	499,300		GNMA	4.500		05/15/39		550
	3,563,552		GNMA	4.500		07/20/39		3,942
	1,141,755		GNMA	5.000		07/20/39		1,262
	1,399,599		GNMA	4.000		08/15/39		1,547
	46,000,000	h	GNMA	3.500		10/15/42		50,406
	79,000,000	h	GNMA	4.000		10/15/42		87,098
	24,000,000	h	GNMA	4.500		10/15/42		26,344
	15,000,000	h	GNMA	5.000		10/15/42		16,538
	22,000,000	h	GNMA	5.500		10/15/42		24,474
	10,000,000	h	GNMA	6.000		10/15/42		11,298

351

COLLEGE RETIREMENT EQUITIES FUND - Social Choice Account

PRINCIPAL			ISSUER	RATE		MATURITY DATE	VALUE (000)
$	38,000,000	h	GNMA	4.500	%	10/20/42	$	41,925
	20,000,000	h	GNMA	5.000		10/20/42		22,091
			TOTAL MORTGAGE BACKED					1,149,008
MUNICIPAL BONDS - 2.4%
	6,520,000		American Municipal Power-Ohio, Inc	6.270		02/15/50		7,600
	4,500,000	g	Basin Electric Power Coop	6.127		06/01/41		5,051
	3,000,000		Broward County FL Water & Sewer Utility Revenue	1.350		10/01/16		3,040
	1,410,000		Broward County FL Water & Sewer Utility Revenue	1.910		10/01/18		1,454
	3,700,000		Calleguas Municipal Water District	2.030		07/01/18		3,775
	2,390,000		Charlotte-Mecklenburg Hospital Authority	5.000		08/01/15		2,598
	1,400,000		Chelan County Public Utility District No	1.398		07/01/14		1,420
	2,300,000		Chelan County Public Utility District No	1.867		07/01/15		2,359
	5,000,000		Chicago Metropolitan Water Reclamation District-Greater Chicago	5.720		12/01/38		6,490
	1,250,000		City & County of Honolulu, HI	6.114		07/01/29		1,424
	4,000,000		City of Dallas, TX	5.078		02/15/22		4,841
	1,500,000		City of Dallas, TX	5.195		02/15/35		1,797
	850,000		City of Eugene, OR	6.320		08/01/22		967
	5,000,000		City of New York, NY	4.500		06/01/15		5,313
	4,500,000		City of Seattle WA Municipal Light & Power Revenue	3.500		06/01/30		4,603
	5,000,000		Commonwealth of Massachusetts	5.456		12/01/39		6,284
	1,750,000		County of Mercer, NJ	5.380		02/01/17		1,860
	4,000,000		Dallas County Hospital District	5.621		08/15/44		5,166
	1,680,000		Douglas County Public Utility District No 1 Wells Hydroelectric	5.112		09/01/18		1,868
	1,400,000		Elkhart Redevelopment District	5.500		06/15/18		1,442
	7,060,000		Fiscal Year 2005 Securitization Corp	4.760		08/15/19		7,859
	1,250,000		Grant County Public Utility District No 2	4.164		01/01/35		1,305
	1,900,000		Guadalupe Valley Electric Coop, Inc	5.671		10/01/32		1,832
	19,500,000		Irvine Ranch Water District Joint Powers Agency	2.388		03/15/14		19,536
	1,000,000		Kansas Development Finance Authority	4.592		05/01/14		1,053
	1,350,000		Kansas Development Finance Authority	4.722		05/01/15		1,473
	965,000	g	LL & P Wind Energy, Inc	5.217		12/01/12		965
	1,000,000		Massachusetts Housing Finance Agency	1.306		06/01/16		996
	545,000		Massachusetts Housing Finance Agency	1.776		06/01/17		546
	6,645,000		Massachusetts Housing Finance Agency	4.782		12/01/20		7,065
	5,400,000		Massachusetts St. Water Pollution Abatement	5.192		08/01/40		6,433
	10,000,000		Metropolitan Council	1.750		09/01/20		10,012
	4,475,000		Metropolitan Council	1.900		09/01/21		4,438
	3,000,000		Metropolitan Washington Airports Authority	5.690		10/01/30		3,270
	5,000,000		Metropolitan Water District of Southern California	6.250		07/01/39		5,990
	750,000		Metropolitan Water Reclamation District of Greater Chicago	2.229		12/01/16		787
	5,000,000		Mississippi Development Bank Special Obligation	5.320		07/01/14		5,286
	1,000,000		New York State Environmental Facilities Corp	1.755		06/15/18		1,013
	1,200,000		New York State Environmental Facilities Corp	2.005		06/15/19		1,219
	1,220,000		New York State Environmental Facilities Corp	2.595		06/15/21		1,238
	1,255,000		New York State Environmental Facilities Corp	3.045		06/15/24		1,269
	1,225,000		New York State Environmental Facilities Corp	3.195		06/15/25		1,240
	500,000		New York State Environmental Facilities Corp	3.684		12/15/29		507
	3,000,000		New York State Urban Development Corp	6.500		12/15/18		3,615
	2,500,000		Newport News Economic Development Authority	5.640		01/15/29		2,751

352

COLLEGE RETIREMENT EQUITIES FUND - Social Choice Account

PRINCIPAL		ISSUER	RATE		MATURITY DATE	VALUE (000)
$	4,750,000	Northern California Power Agency	4.320	%	07/01/24	$	4,936
	2,450,000	Ohio State Water Development Authority	4.879		12/01/34		2,757
	2,500,000	Oklahoma Capital Improvement Authority	5.180		07/01/14		2,716
	11,500,000	Semitropic Improvement District	2.800		12/01/22		11,713
	1,750,000	South Dakota Conservancy District	1.013		08/01/16		1,753
	4,490,000	South Dakota Conservancy District	1.648		08/01/18		4,548
	4,670,000	South Dakota Conservancy District	1.898		08/01/19		4,755
	4,785,000	South Dakota Conservancy District	2.333		08/01/20		4,878
	3,750,000	State of California	7.625		03/01/40		5,102
	5,000,000	State of Connecticut	5.090		10/01/30		5,749
	2,050,000	State of Hawaii	4.670		05/01/14		2,175
	5,000,000	State of Illinois	4.071		01/01/14		5,170
	5,570,000	State of Illinois	4.350		06/01/18		5,801
	5,000,000	State of Michigan	2.302		11/01/14		5,144
	4,505,000	State of Michigan	3.375		12/01/20		4,807
	2,500,000	State of Ohio	5.412		09/01/28		3,087
	3,050,000	State of Oregon	5.030		08/01/14		3,297
	3,265,000	State of Texas	4.900		08/01/20		3,611
	5,000,000	State of Texas	6.072		10/01/29		6,067
	3,715,000	State of Washington	5.050		01/01/18		3,765
	1,033,000	State of Wisconsin	5.700		05/01/26		1,249
	5,000,000	Tuolumne Wind Project Authority	6.918		01/01/34		6,021
	4,900,000	UNM Sandoval Regional Medical Center	4.500		07/20/36		5,176
		TOTAL MUNICIPAL BONDS					265,327
U.S. TREASURY SECURITIES - 3.5%
	13,176,000	United States Treasury Bond	5.375		02/15/31		19,058
	7,335,000	United States Treasury Bond	4.375		05/15/41		9,719
	44,275,000	United States Treasury Bond	3.750		08/15/41		52,936
	52,987,000	United States Treasury Bond	3.000		05/15/42		54,941
	1,400,000	United States Treasury Note	0.500		11/30/12		1,401
	4,500,000	United States Treasury Note	0.625		02/28/13		4,509
	2,325,000	United States Treasury Note	0.125		08/31/13		2,324
	2,595,000	United States Treasury Note	0.125		09/30/13		2,593
	2,670,000	United States Treasury Note	3.125		09/30/13		2,748
	9,725,000	United States Treasury Note	0.125		12/31/13		9,715
	5,985,000	United States Treasury Note	0.250		05/31/14		5,987
	20,660,000	United States Treasury Note	0.250		06/30/14		20,664
	5,000,000	United States Treasury Note	0.250		08/31/14		5,001
	22,395,000	United States Treasury Note	2.375		08/31/14		23,304
	3,631,000	United States Treasury Note	2.500		04/30/15		3,838
	17,895,000	United States Treasury Note	1.875		06/30/15		18,667
	44,983,000	United States Treasury Note	0.250		09/15/15		44,905
	25,225,000	United States Treasury Note	1.250		10/31/15		25,932
	12,840,700	United States Treasury Note	0.625		08/31/17		12,849
	9,000,000	United States Treasury Note	0.625		09/30/17		8,999
	4,550,000	United States Treasury Note	0.875		07/31/19		4,507
	46,846,900	United States Treasury Note	1.750		05/15/22		47,505
	11,893,100	United States Treasury Note	1.625		08/15/22		11,880
		TOTAL U.S. TREASURY SECURITIES					393,982
		TOTAL GOVERNMENT BONDS					2,604,029
		(Cost $2,500,308)

353

COLLEGE RETIREMENT EQUITIES FUND - Social Choice Account

PRINCIPAL			ISSUER	RATE		MATURITY DATE	VALUE (000)
STRUCTURED ASSETS - 1.5%
ASSET BACKED - 0.6%
$	10,000,000		AEP Texas Central Transition Funding LLC	1.976	%	06/01/21	$	10,359
			Series - 2012 1 (Class A2)
	10,000,000		AEP Texas Central Transition Funding LLC	2.845		03/01/26		10,687
			Series - 2012 1 (Class A3)
	1,246,405	i	Bear Stearns Asset Backed Securities Trust	0.587		11/25/39		1,174
			Series - 2005 SD3 (Class 2A1)
	3,501,139	i	Chase Funding Loan Acquisition Trust	1.072		06/25/34		2,696
			Series - 2004 OPT1 (Class M1)
	738,905	i	Countrywide Asset-Backed Certificates	5.683		10/25/46		739
			Series - 2006 15 (Class A2)
	1,418,823	g	Credit-Based Asset Servicing and Securitization LLC	6.159		12/25/36		1,368
			Series - 2007 MX1 (Class A1)
	1,715,000	g,i	DB/UBS Mortgage Trust	5.728		11/10/46		1,952
			Series - 2011 LC1A (Class C)
	4,304,735	g	Flagstar Home Equity Loan Trust	5.781		01/25/35		4,132
			Series - 2007 1A (Class AF3)
	1,500,000		Ford Credit Auto Owner Trust	3.210		07/15/17		1,563
			Series - 2011 A (Class D)
	6,661,673		Lehman XS Trust	6.500		06/25/46		4,070
			Series - 2006 13 (Class 2A1)
	834,754	i	Long Beach Mortgage Loan Trust	0.967		02/25/35		825
			Series - 2005 1 (Class M1)
	4,010,000		Renaissance Home Equity Loan Trust	5.586		11/25/36		1,988
			Series - 2006 3 (Class AF3)
	1,114,644		Residential Asset Mortgage Products, Inc	4.970		09/25/33		1,146
			Series - 2003 RZ5 (Class A7)
	791,743	i	Residential Asset Securities Corp	0.647		04/25/35		773
			Series - 2005 KS3 (Class M3)
	7,522,566		Residential Funding Mortgage Securities II, Inc	5.500		08/25/25		7,490
			Series - 2006 HI5 (Class A3)
	3,528,555		Residential Funding Mortgage Securities II, Inc	5.960		02/25/36		3,650
			Series - 2006 HI3 (Class A3)
	2,000,000		Residential Funding Mortgage Securities II, Inc	6.010		02/25/36		2,002
			Series - 2006 HI1 (Class M1)
	200,000		Residential Funding Mortgage Securities II, Inc	6.060		02/25/36		199
			Series - 2006 HI1 (Class M2)
	762,040	i	Securitized Asset Backed Receivables LLC	0.517		10/25/35		732
			Series - 2006 OP1 (Class A2C)
	3,045,000	g	SLM Student Loan Trust	3.740		02/15/29		3,254
			Series - 2011 B (Class A2)
	1,668,232	i	Soundview Home Equity Loan Trust	0.517		11/25/35		1,614
			Series - 2005 OPT3 (Class A4)
	63,913	i	Soundview Home Equity Loan Trust	0.327		10/25/36		64
			Series - 2006 EQ1 (Class A2)
	806,271	i	Structured Asset Investment Loan Trust	0.617		05/25/35		799
			Series - 2005 4 (Class M1)

354

COLLEGE RETIREMENT EQUITIES FUND - Social Choice Account

PRINCIPAL			ISSUER	RATE		MATURITY DATE	VALUE (000)
$	1,374,133	i	Structured Asset Investment Loan Trust	0.497	%	12/25/35	$	1,363
			Series - 2005 10 (Class A5)
	2,750,000	g	Vornado DP LLC	5.280		09/13/28		3,129
			Series - 2010 VNO (Class C)
	804,714	g,m	Wachovia Amortization Controlled Heloc NIM	5.683		08/12/47		748
			Series - 2006 N1 (Class N1)
	1,191,152	g,i	Wachovia Loan Trust	0.577		05/25/35		980
			Series - 2005 SD1 (Class A)
	730,556	i	Wells Fargo Home Equity Trust	0.357		07/25/36		721
			Series - 2006 2 (Class A3)
			TOTAL ASSET BACKED					70,217
OTHER MORTGAGE BACKED - 0.9%
	135,000		Banc of America Commercial Mortgage, Inc	5.675		07/10/46		151
			Series - 2006 4 (Class AM)
	3,220,000	i	Banc of America Commercial Mortgage, Inc	5.803		04/10/49		3,748
			Series - 2007 2 (Class A4)
	2,200,000	i	Bear Stearns Commercial Mortgage Securities	5.582		09/11/41		2,446
			Series - 2006 PW13 (Class AM)
	2,405,000	i	Bear Stearns Commercial Mortgage Securities	5.568		10/12/41		2,694
			Series - 2006 T24 (Class AM)
	275,484		Citicorp Mortgage Securities, Inc	5.750		11/25/36		279
			Series - 2006 6 (Class A2)
	232,670		Citicorp Mortgage Securities, Inc	6.000		05/25/37		232
			Series - 2007 4 (Class 1A7)
	46,917	g,i	Citigroup Commercial Mortgage Trust	0.361		04/15/22		46
			Series - 2007 FL3A (Class A2)
	2,515,000	i	Commercial Mortgage Pass Through Certificates	5.650		12/10/49		2,761
			Series - 2007 C9 (Class AM)
	2,454,198		Countrywide Alternative Loan Trust	5.500		08/25/16		2,605
			Series - 2004 30CB (Class 1A15)
	1,316,696		Countrywide Alternative Loan Trust	5.500		08/25/34		1,335
			Series - 2004 14T2 (Class A2)
	1,441,426		Countrywide Home Loan Mortgage Pass Through Trust	5.250		02/25/16		1,470
			Series - 2005 6 (Class 1A10)
	1,553,483		Countrywide Home Loan Mortgage Pass Through Trust	4.750		09/25/18		1,607
			Series - 2003 35 (Class 1A1)
	568,189		Countrywide Home Loan Mortgage Pass Through Trust	5.250		05/25/35		571
			Series - 2005 12 (Class 1A5)
	163,601		Countrywide Home Loan Mortgage Pass Through Trust	5.500		09/25/35		164
			Series - 2005 J3 (Class 1A1)
	1,089,750	g,i	Credit Suisse Mortgage Capital Certificates	0.401		04/15/22		1,030
			Series - 2007 TF2A (Class A1)
	3,550,000	g	Credit Suisse Mortgage Capital Certificates	5.626		05/15/23		4,063
			Series - 2006 OMA (Class D)
	4,500,000	g	Credit Suisse Mortgage Capital Certificates	5.383		02/15/40		4,544
			Series - 2009 RR1 (Class A3C)
	1,210,000		CS First Boston Mortgage Securities Corp	4.052		05/15/38		1,227
			Series - 2003 C3 (Class B)
	860,000	g	GS Mortgage Securities Corp II	2.933		06/05/31		905
			Series - 2012 SHOP (Class A)
	475,000	g	GS Mortgage Securities Corp II	3.551		04/10/34		513
			Series - 2012 ALOH (Class A)

355

COLLEGE RETIREMENT EQUITIES FUND - Social Choice Account

PRINCIPAL			ISSUER	RATE		MATURITY DATE	VALUE (000)
$	1,950,000	g,i,m	GS Mortgage Securities Corp II	4.276	%	04/10/34	$	2,000
			Series - 2012 GSMS (Class C)
	1,690,000	g,i	GS Mortgage Securities Corp II	5.402		12/10/43		1,852
			Series - 2010 C2 (Class C)
	2,535,000	g,i	GS Mortgage Securities Corp II	5.402		12/10/43		2,921
			Series - 2010 C2 (Class B)
	390,000	g,i	HVB Mortgage Capital Corp	2.278		09/10/22		390
			Series - 2003 FL1A (Class J)
	1,449,208	g,i	JP Morgan Chase Commercial Mortgage Securities Corp	0.596		07/15/19		1,405
			Series - 2007 FL1A (Class A1)
	2,125,000	g,i	JP Morgan Chase Commercial Mortgage Securities Corp	5.431		07/15/46		2,266
			Series - 2011 C4 (Class C)
	4,120,000	i	JP Morgan Chase Commercial Mortgage Securities Corp	6.003		06/15/49		4,769
			Series - 2007 LD11 (Class A4)
	250,681	i	JP Morgan Mortgage Trust	4.281		04/25/35		256
			Series - 2005 A2 (Class 5A1)
	6,120,000		LB-UBS Commercial Mortgage Trust	5.424		02/15/40		7,066
			Series - 2007 C1 (Class A4)
	497,152		Master Asset Securitization Trust	5.000		05/25/35		499
			Series - 2005 1 (Class 2A5)
	1,645,209	i	Merrill Lynch Mortgage Trust	5.107		07/12/38		1,809
			Series - 2005 CIP1 (Class AM)
	4,040,000	i	Merrill Lynch/Countrywide Commercial Mortgage Trust	5.172		12/12/49		4,614
			Series - 2006 4 (Class A3)
	6,300,000	i	Morgan Stanley Capital I	5.447		02/12/44		7,270
			Series - 2007 HQ11 (Class A4)
	710,000	g,i	Morgan Stanley Capital I	5.421		09/15/47		747
			Series - 2011 C1 (Class D)
	2,185,000	g,i	Morgan Stanley Capital I	5.421		09/15/47		2,416
			Series - 2011 C1 (Class C)
	850,000	i	Morgan Stanley Capital I	5.544		11/12/49		911
			Series - 2007 T25 (Class AM)
	1,907,362	i	Nomura Asset Securities Corp	7.328		03/15/30		1,921
			Series - 1998 D6 (Class A2)
	2,750,000	g	OBP depositor llc trust	4.646		07/15/45		3,240
			Series - 2010 OBP (Class A)
	1,586,782		Residential Accredit Loans, Inc	4.350		03/25/34		1,632
			Series - 2004 QS4 (Class A1)
	4,990,071	i	Residential Accredit Loans, Inc	0.407		05/25/46		3,258
			Series - 2006 QO5 (Class 2A1)
	1,400,000		RFMSI Trust	5.500		03/25/35		1,470
			Series - 2005 S2 (Class A6)
	1,980,032	g,i	Springleaf Mortgage Loan Trust	2.667		09/25/57		1,994
			Series - 2012 1A (Class A)
	1,493,888	g,i	Springleaf Mortgage Loan Trust	2.220		10/25/57		1,500
			Series - 0 2A (Class A)
	201,966	i	Structured Adjustable Rate Mortgage Loan Trust	0.977		03/25/35		202
			Series - 2005 6XS (Class A3)
	469,563		Wachovia Bank Commercial Mortgage Trust	5.246		12/15/43		475
			Series - 2007 C30 (Class A3)
	1,740,000		Wachovia Bank Commercial Mortgage Trust	5.342		12/15/43		1,970
			Series - 2007 C30 (Class A5)

356

COLLEGE RETIREMENT EQUITIES FUND - Social Choice Account

PRINCIPAL			ISSUER	RATE		MATURITY DATE	VALUE (000)
$	2,505,000		Wachovia Bank Commercial Mortgage Trust	5.500	%	04/15/47	$	2,797
			Series - 2007 C31 (Class A5)
	1,160,000		Wachovia Bank Commercial Mortgage Trust	5.339		11/15/48		1,253
			Series - 2006 C29 (Class AM)
	1,745,000	i	Wachovia Bank Commercial Mortgage Trust	6.122		02/15/51		2,037
			Series - 2007 C33 (Class A5)
	2,175,000	i	Wachovia Bank Commercial Mortgage Trust	6.122		02/15/51		2,564
			Series - 2007 C33 (Class A4)
	233,285		Wells Fargo Mortgage Backed Securities Trust	5.500		04/25/35		234
			Series - 2005 2 (Class 1A1)
			TOTAL OTHER MORTGAGE BACKED					100,129
			TOTAL STRUCTURED ASSETS					170,346
			(Cost $162,054)
			TOTAL BONDS					4,188,881
			(Cost $3,977,601)
SHARES			COMPANY
COMMON STOCKS - 60.4%
AUTOMOBILES & COMPONENTS - 1.0%
	67,500	*	Aisin Seiki Co Ltd					1,922
	115,296	*	American Axle & Manufacturing Holdings, Inc					1,299
	127,203		Bayerische Motoren Werke AG.					9,328
	37,510		Bayerische Motoren Werke AG. (Preference)					1,928
	7,792	*	BorgWarner, Inc					539
	187,700		Denso Corp					5,898
	2,558,811		Ford Motor Co					25,229
	8,129	*,e	Fuel Systems Solutions, Inc					140
	71,000		Fuji Heavy Industries Ltd					592
	236,929		Harley-Davidson, Inc					10,039
	361,780		Honda Motor Co Ltd					11,180
	755,892		Johnson Controls, Inc					20,712
	254,000	*,e	Mitsubishi Motors Corp					234
	38,400	*	Modine Manufacturing Co					283
	836,900	e	Nissan Motor Co Ltd					7,123
	232,893	e	Peugeot S.A.					1,839
	97,815	e	Pirelli & C S.p.A.					1,056
	109,499		Renault S.A.					5,131
	3,200		Spartan Motors, Inc					16
	9,200		Stanley Electric Co Ltd					136
	48,870		Superior Industries International, Inc					835
	123,300	e	Suzuki Motor Corp					2,395
	107,999	*	Tenneco, Inc					3,024
	7,617	*,e	Tesla Motors, Inc					223
	2,900	e	Toyoda Gosei Co Ltd					58
	3,500	*,e	Toyota Boshoku Corp					36
	81,600		Toyota Industries Corp					2,284
	102,500	e	Yamaha Motor Co Ltd					895
			TOTAL AUTOMOBILES & COMPONENTS					114,374

357

COLLEGE RETIREMENT EQUITIES FUND - Social Choice Account

SHARES			COMPANY	VALUE (000)
BANKS - 3.4%
	1,100	e	Arrow Financial Corp	$	27
	502,957		Australia & New Zealand Banking Group Ltd		12,853
	1,911,833		Banca Intesa S.p.A.		2,915
	766,621		Banca Intesa S.p.A. RSP		994
	898,858	e	Banco Bilbao Vizcaya Argentaria S.A.		7,072
	1,330,235		Banco Santander Central Hispano S.A.		9,929
	25,289		Bank of Hawaii Corp		1,154
	207,400	e	Bank of Nova Scotia		11,375
	1,020,309		BB&T Corp		33,834
	4,416		Bendigo Bank Ltd		35
	47,100		CapitalSource, Inc		357
	7,221		Capitol Federal Financial		86
	3,360		Cathay General Bancorp		58
	64,852	*	Citizens Republic Bancorp, Inc		1,255
	2,120		Columbia Banking System, Inc		39
	165,930		Comerica, Inc		5,152
	1,156		Commerce Bancshares, Inc		47
	301,281		Commonwealth Bank of Australia		17,347
	3,936		Community Bank System, Inc		111
	9,127		Cullen/Frost Bankers, Inc		524
	102,941	*	Danske Bank AS		1,855
	236,588		DNB NOR Holding ASA		2,898
	10,051		East West Bancorp, Inc		212
	107,598		First Horizon National Corp		1,036
	25,000	*	Flagstar Bancorp, Inc		28
	16,186		FNB Corp		181
	2,590		Glacier Bancorp, Inc		40
	5,441		Hancock Holding Co		168
	508,500	e	Hang Seng Bank Ltd		7,773
	3,209,118		HSBC Holdings plc		29,813
	199,570		Hudson City Bancorp, Inc		1,589
	174,643		Huntington Bancshares, Inc		1,205
	1,147		International Bancshares Corp		22
	90,119		KBC Groep NV		2,164
	1,222,260		Keycorp		10,683
	156,974	e	M&T Bank Corp		14,938
	1,300		MainSource Financial Group, Inc		17
	1,800		MB Financial, Inc		36
	2,071,200	e	Mitsubishi UFJ Financial Group, Inc		9,692
	3,874,400	e	Mizuho Financial Group, Inc		6,288
	403,419		National Australia Bank Ltd		10,607
	6,490		National Penn Bancshares, Inc		59
	1,500		NBT Bancorp, Inc		33
	145,456	e	New York Community Bancorp, Inc		2,060
	644,338		Nordea Bank AB		6,378
	19,938		Old National Bancorp		271
	600		Park National Corp		42
	2,728		People’s United Financial, Inc		33

358

COLLEGE RETIREMENT EQUITIES FUND - Social Choice Account

SHARES			COMPANY	VALUE (000)
	2,500	*	Pinnacle Financial Partners, Inc	$	48
	563,484		PNC Financial Services Group, Inc		35,557
	20,000	*	Popular, Inc		349
	53,363		Provident Financial Services, Inc		843
	109,738	e	Radian Group, Inc		476
	1,394,777		Regions Financial Corp		10,056
	155,400		Resona Holdings, Inc		636
	2,569		Rockville Financial, Inc		31
	250,810		Royal Bank of Canada (Toronto)		14,425
	1,000		S&T Bancorp, Inc		18
	410,200		Shizuoka Bank Ltd		4,197
	3,487	*	Signature Bank		234
	221,278		Skandinaviska Enskilda Banken AB (Class A)		1,854
	369,841		Standard Chartered plc		8,380
	190,200	e	Sumitomo Mitsui Financial Group, Inc		5,926
	16,927		Susquehanna Bancshares, Inc		177
	28,454	*	SVB Financial Group		1,720
	45,092		Swedbank AB (A Shares)		848
	800	*	Texas Capital Bancshares, Inc		40
	157,511	e	Toronto-Dominion Bank		13,136
	1,700		Trustmark Corp		41
	3,150		Umpqua Holdings Corp		41
	718,558	*	UniCredit S.p.A		2,990
	1,361,026		US Bancorp		46,684
	13,956		Webster Financial Corp		331
	5,690	*	Western Alliance Bancorp		58
	629,923		Westpac Banking Corp		16,152
	1,110		Wintrust Financial Corp		42
	37,356		Zions Bancorporation		772
			TOTAL BANKS		381,347
CAPITAL GOODS - 4.8%
	494,871		3M Co		45,735
	11,675		A.O. Smith Corp		672
	43,017	e	ACS Actividades Cons y Servicios S.A.		887
	13,978		Actuant Corp (Class A)		400
	5,085		Acuity Brands, Inc		322
	1,900	*	Aegion Corp		36
	75,930		Alfa Laval AB		1,380
	2,655	*,e	American Superconductor Corp		11
	655,215		Ametek, Inc		23,227
	4,300		Ampco-Pittsburgh Corp		79
	5,965		Apogee Enterprises, Inc		117
	56,219	*	ArvinMeritor, Inc		238
	368,000		Asahi Glass Co Ltd		2,448
	51,800		Assa Abloy AB (Class B)		1,682
	10,969	*	Astec Industries, Inc		347
	153,909		Atlas Copco AB (A Shares)		3,596
	135,146		Atlas Copco AB (B Shares)		2,833
	293,206		Balfour Beatty plc		1,441
	116,424		Barnes Group, Inc		2,912
	2,120	*	Beacon Roofing Supply, Inc		60

359

COLLEGE RETIREMENT EQUITIES FUND - Social Choice Account

SHARES			COMPANY	VALUE (000)
	4,234		Belden CDT, Inc	$	156
	106,747		Bouygues S.A.		2,596
	29,997	e	Briggs & Stratton Corp		560
	23,239	*,e	Builders FirstSource, Inc		121
	299,328		Bunzl plc		5,368
	4,279	*	Chart Industries, Inc		316
	118,516		Cintra Concesiones de Infraestructuras de Transporte S.A.		1,544
	10,768	*	Colfax Corp		395
	144,774		Compagnie de Saint-Gobain		5,067
	51,393		Cooper Industries plc		3,858
	210,677		Cummins, Inc		19,427
	46,600	e	Daikin Industries Ltd		1,205
	635,413		Danaher Corp		35,043
	372,388		Deere & Co		30,719
	8,640		Delek Group Ltd		1,450
	67,977		Dover Corp		4,044
	301,050	e	Eaton Corp		14,228
	4,941		EMCOR Group, Inc		141
	712,543		Emerson Electric Co		34,394
	7,019	*	EnerSys		248
	1,450		ESCO Technologies, Inc		56
	2,909	*	Esterline Technologies Corp		163
	143,829		Fastenal Co		6,183
	144,300		Fiat Industrial S.p.A.		1,413
	78,034	*,e	FuelCell Energy, Inc		69
	400		Gardner Denver, Inc		24
	21,353		GEA Group AG.		647
	11,801		Geberit AG.		2,570
	48,876	*	Gibraltar Industries, Inc		627
	1,500		Gorman-Rupp Co		41
	66,177		Graco, Inc		3,327
	41,220	*	GrafTech International Ltd		371
	1,400		H&E Equipment Services, Inc		17
	4,485		Heico Corp		174
	14,756	*	Hexcel Corp		354
	32,600	e	Hitachi Construction Machinery Co Ltd		526
	12,125		Hochtief AG.		569
	4,000		Houston Wire & Cable Co		43
	560,369		Illinois Tool Works, Inc		33,326
	133,866		Ingersoll-Rand plc		6,000
	2,300		Insteel Industries, Inc		27
	349,846		Invensys plc		1,326
	2,187		Joy Global, Inc		123
	27,700	e	JS Group Corp		660
	7,600	e	JTEKT Corp		60
	213,800	e	Komatsu Ltd		4,190
	380,797		Koninklijke Philips Electronics NV		8,891
	320,000	e	Kubota Corp		3,230
	6,983	*	Layne Christensen Co		137
	36,587		LB Foster Co (Class A)		1,183
	26,197		Lincoln Electric Holdings, Inc		1,023
	15,600	*,e	Makita Corp		604

360

COLLEGE RETIREMENT EQUITIES FUND - Social Choice Account

SHARES			COMPANY	VALUE (000)
	659,000	e	Marubeni Corp	$	4,190
	463,592		Masco Corp		6,977
	44,896		Metso Oyj		1,608
	750	*	Middleby Corp		87
	482,000		Mitsubishi Electric Corp		3,553
	7,683		MSC Industrial Direct Co (Class A)		518
	114,717	*	NCI Building Systems, Inc		1,151
	83,000	e	NGK Insulators Ltd		993
	28,000	e	Nidec Corp		2,045
	241,000	m	Nisshin Steel Co Ltd		255
	147,946		Nordson Corp		8,673
	86,000	e	NSK Ltd		499
	152,793		Orkla ASA		1,164
	165,398	*	Owens Corning, Inc		5,534
	287,127		Paccar, Inc		11,492
	25,360		Pall Corp		1,610
	35,299		Parker Hannifin Corp		2,950
	30,302	e	Pentair, Inc		1,349
	43,401	*,e	Polypore International, Inc		1,534
	191,140		Precision Castparts Corp		31,221
	35,452		Quanex Building Products Corp		668
	118,919	*	Quanta Services, Inc		2,937
	94,352		Rockwell Automation, Inc		6,562
	10,342		Rockwell Collins, Inc		555
	50,799		Roper Industries, Inc		5,582
	3,300	*	Rush Enterprises, Inc (Class A)		64
	236,880		Sandvik AB		3,222
	2,100		Sauer-Danfoss, Inc		84
	172,100		Scania AB (B Shares)		3,164
	182,088		Schneider Electric S.A.		10,766
	1,857,500		SembCorp Industries Ltd		8,533
	98,000	e	Shimizu Corp		330
	66,100		Skanska AB (B Shares)		1,072
	42,500		SKF AB (B Shares)		918
	69,349		Smiths Group plc		1,165
	17,535		Snap-On, Inc		1,260
	210,153	*	Spirit Aerosystems Holdings, Inc (Class A)		4,667
	13,155		Sulzer AG.		1,920
	161,300		Sumitomo Electric Industries Ltd		1,706
	5,435	e	TAL International Group, Inc		185
	104,755		Tennant Co		4,486
	18,487		Timken Co		687
	6,400	e	Toyota Tsusho Corp		137
	5,051	*,e	Trex Co, Inc		172
	38,902	*	United Rentals, Inc		1,272
	1,070		Universal Forest Products, Inc		44
	48,780	*,e	USG Corp		1,071
	2,941		Valmont Industries, Inc		387
	176,760		Vinci S.A.		7,520
	436,090		Volvo AB (B Shares)		6,127
	122,232		W.W. Grainger, Inc		25,470
	25,258	*	Wabash National Corp		180

361

COLLEGE RETIREMENT EQUITIES FUND - Social Choice Account

SHARES			COMPANY	VALUE (000)
	38,428	*	WABCO Holdings, Inc	$	2,216
	27,403	*	WESCO International, Inc		1,567
	44,334		Westinghouse Air Brake Technologies Corp		3,560
	131,715		Wolseley plc		5,634
	12,153		Xylem, Inc		306
	18,672	e	Zardoya Otis S.A.		220
			TOTAL CAPITAL GOODS		531,076
COMMERCIAL & PROFESSIONAL SERVICES - 0.7%
	2,604		ABM Industries, Inc		49
	197,072	*	ACCO Brands Corp		1,279
	80,180		Adecco S.A.		3,827
	14,675		Aggreko plc		549
	176,082		Avery Dennison Corp		5,603
	205,697		Brambles Ltd		1,491
	2,800		Bureau Veritas S.A.		287
	120,569		Capita Group plc		1,510
	2,000		CDI Corp		34
	2,394	*	Copart, Inc		66
	9,841		Corporate Executive Board Co		528
	218,000	e	Dai Nippon Printing Co Ltd		1,520
	24,020		Deluxe Corp		734
	82,626		Dun & Bradstreet Corp		6,580
	22,336		Equifax, Inc		1,040
	313,217		Experian Group Ltd		5,216
	2,000		Heidrick & Struggles International, Inc		25
	8,629		Herman Miller, Inc		168
	21,504		HNI Corp		549
	9,308	*	IHS, Inc (Class A)		906
	1,660	*,e	Innerworkings, Inc		22
	7,700		Intertek Group plc		341
	112,589		Iron Mountain, Inc		3,840
	1,800		Kelly Services, Inc (Class A)		23
	29,712		Manpower, Inc		1,093
	2,100	*	Mobile Mini, Inc		35
	1,000	*	On Assignment, Inc		20
	50,982	e	Pitney Bowes, Inc		705
	18,371	e	R.R. Donnelley & Sons Co		195
	34,400		Randstad Holdings NV		1,143
	162,118		Robert Half International, Inc		4,318
	58,400		Secom Co Ltd		3,044
	400		Societe BIC S.A.		48
	1,544	*	Standard Parking Corp		35
	44,676	*	Tetra Tech, Inc		1,173
	179,000	e	Toppan Printing Co Ltd		1,038
	463,660		Tyco International Ltd		26,086
	2,100		Viad Corp		44
	174,423		Waste Management, Inc		5,595
			TOTAL COMMERCIAL & PROFESSIONAL SERVICES		80,759

362

COLLEGE RETIREMENT EQUITIES FUND - Social Choice Account

SHARES			COMPANY	VALUE (000)
	CONSUMER DURABLES & APPAREL - 0.8%
	29,048		Adidas-Salomon AG.	$	2,384
	4,859	e	American Greetings Corp (Class A)		82
	64,500		Burberry Group plc		1,044
	32,738	e	Callaway Golf Co		201
	11,726	*	Carter’s, Inc		631
	30,920		Christian Dior S.A.		4,142
	126,573		Compagnie Financiere Richemont S.A.		7,600
	24,000		Electrolux AB (Series B)		593
	7,187	e	Ethan Allen Interiors, Inc		158
	11,700		Gildan Activewear, Inc		371
	573,700	e	Matsushita Electric Industrial Co Ltd		3,796
	520,280		Mattel, Inc		18,460
	7,456	*	Meritage Homes Corp		284
	9,802	*	Mohawk Industries, Inc		784
	23,800		Movado Group, Inc		803
	270,653		Nike, Inc (Class B)		25,688
	197,000	e	Nikon Corp		5,417
	18,943		Oxford Industries, Inc		1,069
	9,478	*	Perry Ellis International, Inc		209
	2,000		Pool Corp		83
	27,543		Ryland Group, Inc		826
	50,000		Sekisui Chemical Co Ltd		403
	96,000		Sekisui House Ltd		953
	132,000	e	Sharp Corp		326
	234,000	*,e	Sony Corp		2,736
	15,833		Tupperware Corp		848
	25,742	*,e	Under Armour, Inc (Class A)		1,437
	4,500	*	Unifi, Inc		58
	23,163		VF Corp		3,691
	123,400	e	Yamaha Corp		1,142
			TOTAL CONSUMER DURABLES & APPAREL		86,219
CONSUMER SERVICES - 1.3%
	41,319		Accor S.A.		1,376
	35,220	*	AFC Enterprises		866
	800	*,e	American Public Education, Inc		29
	5,100		Autogrill S.p.A.		49
	30,700		Benesse Corp		1,485
	7,343		Bob Evans Farms, Inc		287
	25,421		Brinker International, Inc		897
	1,171		CBRL Group, Inc		79
	7,675	*	Chipotle Mexican Grill, Inc (Class A)		2,437
	103,153	e	Choice Hotels International, Inc		3,300
	8,683	*,e	Coinstar, Inc		391
	514,283		Compass Group plc		5,685
	86,851		Darden Restaurants, Inc		4,842
	1,346	*	DineEquity, Inc		75
	16,334		Domino’s Pizza, Inc		616
	7,832	e	Dunkin Brands Group, Inc		229
	3,984	*	Jack in the Box, Inc		112
	369,506		Marriott International, Inc (Class A)		14,448
	595,733		McDonald’s Corp		54,658
	3,606	*	Panera Bread Co (Class A)		616

363

COLLEGE RETIREMENT EQUITIES FUND - Social Choice Account

SHARES			COMPANY	VALUE (000)
	1,300	*	Papa John’s International, Inc	$	69
	1,110	*,e	Peet’s Coffee & Tea, Inc		81
	33,974	e	Royal Caribbean Cruises Ltd		1,026
	11,375	*	Ruby Tuesday, Inc		82
	81,945	*	Ryman Hospitality Properties		3,239
	29,578	*	Sonic Corp		304
	688,843		Starbucks Corp		34,959
	136,400		Starwood Hotels & Resorts Worldwide, Inc		7,906
	9,100	e	Tim Hortons, Inc (Toronto)		474
	2,200		Universal Technical Institute, Inc		30
	11,685		Whitbread plc		429
			TOTAL CONSUMER SERVICES		141,076
DIVERSIFIED FINANCIALS - 3.0%
	4,200	e	Aeon Credit Service Co Ltd		90
	251,412	*	American Capital Ltd		2,851
	763,041		American Express Co		43,388
	196,682		Ameriprise Financial, Inc		11,150
	12,499		Ares Capital Corp		214
	1,355,087		Bank of New York Mellon Corp		30,653
	146,733		BlackRock, Inc		26,162
	618,093		Capital One Financial Corp		35,237
	1,431,454		Charles Schwab Corp		18,308
	310,655		CME Group, Inc		17,801
	1,362	e	Cohen & Steers, Inc		40
	69,415		Deutsche Boerse AG.		3,841
	684,553		Discover Financial Services		27,197
	17,544		Eaton Vance Corp		508
	51,550		Evercore Partners, Inc (Class A)		1,392
	243,881		Franklin Resources, Inc		30,503
	91,164	*	IntercontinentalExchange, Inc		12,162
	1,750	*	International Assets Holding Corp		33
	508,141		Invesco Ltd		12,698
	3,030	*	Investment Technology Group, Inc		26
	61,166		Janus Capital Group, Inc		577
	1,570	e	KBW, Inc		26
	60,728		Kinnevik Investment AB (Series B)		1,262
	62,663		Legg Mason, Inc		1,547
	7,400	e	Main Street Capital Corp		218
	26,620		Mitsubishi UFJ Lease & Finance Co Ltd		1,121
	76,231		Nasdaq Stock Market, Inc		1,776
	135,919	*	NewStar Financial, Inc		1,630
	240,120		Northern Trust Corp		11,145
	250,268		NYSE Euronext		6,169
	22,527	*,e	PHH Corp		458
	8,995	e	Prospect Capital Corp		104
	15,778	*	Safeguard Scientifics, Inc		248
	489,115		State Street Corp		20,523
	5,000	*	SWS Group, Inc		31
	287,043		T Rowe Price Group, Inc		18,170
	16,754	e	Triangle Capital Corp		430
			TOTAL DIVERSIFIED FINANCIALS		339,689

364

COLLEGE RETIREMENT EQUITIES FUND - Social Choice Account

SHARES			COMPANY	VALUE (000)
ENERGY - 5.6%
	40,000		Acergy S.A.	$	924
	46,000		Aker Kvaerner ASA		876
	6,000		Alon USA Energy, Inc		82
	52,019		AMEC plc		965
	315,610		Apache Corp		27,291
	45,500	e	ARC Energy Trust		1,106
	13,661	*	Atwood Oceanics, Inc		621
	23,645	*,e	Basic Energy Services, Inc		265
	854,626		BG Group plc		17,293
	14,483	*,e	C&J Energy Services, Inc		288
	7,080	*,e	Cal Dive International, Inc		11
	270,701	*	Cameron International Corp		15,179
	24,454	e	CARBO Ceramics, Inc		1,539
	14,005	*,e	Carrizo Oil & Gas, Inc		350
	287,400	e	Cenovus Energy, Inc (Toronto)		10,030
	165,841	*	Cheniere Energy, Inc		2,579
	98,049		Cimarex Energy Co		5,741
	260,946	*,e	Clean Energy Fuels Corp		3,437
	50,627	*,e	Compagnie Generale de Geophysique S.A.		1,626
	31,699	*	Comstock Resources, Inc		583
	29,437	*	Concho Resources, Inc		2,789
	46,605	*	Contango Oil & Gas Co		2,290
	146,657	*	Continental Resources, Inc		11,278
	163,000	e	Cosmo Oil Co Ltd		300
	57,300	e	Crescent Point Energy Corp		2,537
	190,536		Crosstex Energy, Inc		2,673
	17,312	*	CVR Energy, Inc		636
	124,890	*	CVR Energy, Inc (Contingent value right)		843
	11,452	*	Dawson Geophysical Co		289
	2,500		Delek US Holdings, Inc		64
	486,380	*	Denbury Resources, Inc		7,860
	430,963	*	Devon Energy Corp		26,073
	11,995	*	Dresser-Rand Group, Inc		661
	290,374	e	Enbridge, Inc		11,342
	1,150		Energen Corp		60
	72,600	e	Enerplus Resources Fund		1,204
	624,899	e	ENI S.p.A.		13,700
	325,952		EOG Resources, Inc		36,523
	320,742		Equitable Resources, Inc		18,924
	11,351	*	Exterran Holdings, Inc		230
	306,614	*	FMC Technologies, Inc		14,197
	19,000		Fugro NV		1,291
	183,458		Galp Energia SGPS S.A.		2,972
	4,321	*	Geospace Technologies Corp		529
	65,141	*,e	Goodrich Petroleum Corp		823
	22,906		Gulf Island Fabrication, Inc		638
	187,072	*	Hercules Offshore, Inc		913
	366,724		Hess Corp		19,700
	155,177	*	Hornbeck Offshore Services, Inc		5,687
	16,000		Idemitsu Kosan Co Ltd		1,309

365

COLLEGE RETIREMENT EQUITIES FUND - Social Choice Account

SHARES			COMPANY	VALUE (000)
	670		Inpex Holdings, Inc	$	3,983
	60,455	*	ION Geophysical Corp		420
	44,211	*	Key Energy Services, Inc		309
	5,994	*	Kinder Morgan Management LLC		458
	676,402	*	Kodiak Oil & Gas Corp		6,331
	749,902		Marathon Oil Corp		22,175
	120,000		Marathon Petroleum Corp		6,551
	6,367	*	Matrix Service Co		67
	458,618		National Oilwell Varco, Inc		36,741
	3,769	*	Natural Gas Services Group, Inc		56
	126,731	e	Neste Oil Oyj		1,665
	260,977		Nexen, Inc		6,610
	180,694		Noble Corp		6,465
	297,640		Noble Energy, Inc		27,594
	29,282	*,e	Northern Oil And Gas, Inc		498
	21,344	*	Oasis Petroleum, Inc		629
	38,856		Oceaneering International, Inc		2,147
	28,748	*	Oil States International, Inc		2,284
	209,409		OMV AG.		7,336
	575,443		Origin Energy Ltd		6,742
	64,100		Pacific Rubiales Energy Corp (Toronto)		1,532
	116,848	*	Parker Drilling Co		494
	37,146	*	PDC Energy, Inc		1,175
	141,200	e	Penn West Energy Trust		2,009
	68,060	*	Petroquest Energy, Inc		457
	87,693	*	Pioneer Energy Services Corp		683
	202,264	e	Pioneer Natural Resources Co		21,116
	37,029	*	Plains Exploration & Production Co		1,387
	282,498		Questar Market Resources, Inc		8,944
	150,641	*,e	Quicksilver Resources, Inc		616
	143,996		Range Resources Corp		10,061
	987,020	*	Rentech, Inc		2,428
	328,769		Repsol YPF S.A.		6,389
	36,777	*	Rex Energy Corp		491
	48,811		Saipem S.p.A.		2,352
	467,068		Santos Ltd		5,480
	894		SEACOR Holdings, Inc		75
	58,600		Showa Shell Sekiyu KK		310
	337,955	*	Southwestern Energy Co		11,754
	954,987		Spectra Energy Corp		28,038
	108,961		St. Mary Land & Exploration Co		5,896
	403,405		Statoil ASA		10,411
	430,104		Suncor Energy, Inc		14,149
	73,725	e	Sunoco, Inc		3,453
	88,722	*	Superior Energy Services		1,821
	471,100		Talisman Energy, Inc		6,297
	22,440		Technip S.A.		2,493
	159,456		Tenaris S.A.		3,263
	5,071	*	Tetra Technologies, Inc		31
	8,436		Tidewater, Inc		409
	262,191		Tullow Oil plc		5,816
	80,823	*,e	Ultra Petroleum Corp		1,776

366

COLLEGE RETIREMENT EQUITIES FUND - Social Choice Account

SHARES			COMPANY	VALUE (000)
	46,868	*	Unit Corp	$	1,945
	25,000	*,e	Vantage Drilling Co		46
	933,272	*	Weatherford International Ltd		11,834
	320,238	e	Western Refining, Inc		8,384
	130,361	*	Whiting Petroleum Corp		6,177
	443,674		Williams Cos, Inc		15,515
			TOTAL ENERGY		623,689
FOOD & STAPLES RETAILING - 0.8%
	173,400	e	Aeon Co Ltd		1,958
	179,256		Carrefour S.A.		3,718
	844		Casey’s General Stores, Inc		48
	13,576		Casino Guichard Perrachon S.A.		1,201
	5,000	e	Colruyt S.A.		218
	31,318		Delhaize Group		1,210
	177,850		Distribuidora Internacional de Alimentacion S.A.		982
	275,568		J Sainsbury plc		1,549
	59,300		Jeronimo Martins SGPS S.A.		990
	6,988	e	Kesko Oyj (B Shares)		198
	316,657		Koninklijke Ahold NV		3,966
	377,848		Kroger Co		8,895
	11,800	e	Lawson, Inc		906
	42,800	e	Loblaw Cos Ltd		1,487
	57,100		Metcash Ltd		209
	68,666		Metro AG.		2,057
	12,200	e	Metro, Inc		725
	2,263		Pricesmart, Inc		171
	316,705	e	Safeway, Inc		5,096
	149,700		Seven & I Holdings Co Ltd		4,587
	18,582		Spartan Stores, Inc		284
	807,032		Sysco Corp		25,236
	1,918,076		Tesco plc		10,300
	1,270	*	United Natural Foods, Inc		74
	93,077		Whole Foods Market, Inc		9,066
	386,938		WM Morrison Supermarkets plc		1,784
	265,072		Woolworths Ltd		7,893
			TOTAL FOOD & STAPLES RETAILING		94,808
FOOD, BEVERAGE & TOBACCO - 2.7%
	161,000		Ajinomoto Co, Inc		2,522
	51,945		Aryzta AG.		2,493
	191,588		Associated British Foods plc		3,992
	16,050		Bunge Ltd		1,076
	2,423	e	Calavo Growers, Inc		61
	320,129	e	Campbell Soup Co		11,147
	189,544		Coca Cola Hellenic Bottling Co S.A.		3,537
	82,800		Coca-Cola Amatil Ltd		1,162
	131,532		ConAgra Foods, Inc		3,629
	19,775	*	Darling International, Inc		362
	30,775		Dr Pepper Snapple Group, Inc		1,370
	9,693		Flowers Foods, Inc		196
	808,796		General Mills, Inc		32,231

367

COLLEGE RETIREMENT EQUITIES FUND - Social Choice Account

SHARES			COMPANY	VALUE (000)
	70,022	*,e	Green Mountain Coffee Roasters, Inc	$	1,663
	171,325		Groupe Danone		10,541
	442,005		H.J. Heinz Co		24,730
	5,759	*	Hain Celestial Group, Inc		363
	141,323		Hillshire Brands Co		3,785
	21,922		Hormel Foods Corp		641
	39,791		J.M. Smucker Co		3,435
	551,312		Kellogg Co		28,481
	28,997		Kerry Group plc (Class A)		1,485
	31,000		Kikkoman Corp		423
	1,188,820		Kraft Foods, Inc (Class A)		49,158
	3,503		Lancaster Colony Corp		257
	458		Lindt & Spruengli AG.		1,449
	21		Lindt & Spruengli AG. (Reg)		758
	24,873		McCormick & Co, Inc		1,543
	74,148		Mead Johnson Nutrition Co		5,434
	13,000		Nippon Meat Packers, Inc		167
	39,000	e	Nisshin Seifun Group, Inc		479
	14,500	e	Nissin Food Products Co Ltd		568
	857,662		PepsiCo, Inc		60,697
	29,100	e	Saputo, Inc		1,251
	13,800		Suedzucker AG.		489
	12,546		Tate & Lyle plc		135
	11,426	e	Tootsie Roll Industries, Inc		308
	2,939	*	TreeHouse Foods, Inc		154
	405,114		Unilever NV		14,368
	481,826		Unilever plc		17,592
	81,300		Viterra, Inc		1,332
	42,800	e	Yakult Honsha Co Ltd		2,029
	6,000		Yamazaki Baking Co Ltd		80
			TOTAL FOOD, BEVERAGE & TOBACCO		297,573
HEALTH CARE EQUIPMENT & SERVICES - 1.8%
	450,512		Aetna, Inc		17,840
	8,037	*	Align Technology, Inc		297
	14,334	*	Amerigroup Corp		1,311
	10,800	*	Amsurg Corp		307
	609,052		Baxter International, Inc		36,702
	322,043		Becton Dickinson & Co		25,300
	54,777	*	Centene Corp		2,049
	4,495		Chemed Corp		311
	186,841		Cigna Corp		8,813
	9,815	*	Conceptus, Inc		199
	700	*	Cyberonics, Inc		37
	5,764		Dentsply International, Inc		220
	15,359	*	Edwards Lifesciences Corp		1,649
	12,050	*	Greatbatch, Inc		293
	2,187	*	Haemonetics Corp		175
	18,890	*	Henry Schein, Inc		1,497
	72,540		Hill-Rom Holdings, Inc		2,108
	10,561	*	HMS Holdings Corp		353
	119,951		Humana, Inc		8,415

368

COLLEGE RETIREMENT EQUITIES FUND - Social Choice Account

SHARES			COMPANY	VALUE (000)
	1,185	*	ICU Medical, Inc	$	72
	45,302	*	Idexx Laboratories, Inc		4,501
	2,446		Invacare Corp		35
	61,900	*	Inverness Medical Innovations, Inc		1,206
	6,078	*	LHC Group, Inc		112
	58,522	*	LifePoint Hospitals, Inc		2,504
	10,330	*,e	MAKO Surgical Corp		180
	1,730	*	MedAssets, Inc		31
	5,257	*	Medidata Solutions, Inc		218
	953,308		Medtronic, Inc		41,108
	55,639	*	Molina Healthcare, Inc		1,399
	8,672	*	MWI Veterinary Supply, Inc		925
	14,388	*	Natus Medical, Inc		188
	1,976	*	NuVasive, Inc		45
	2,364	*	NxStage Medical, Inc		31
	3,000	*	Omnicell, Inc		42
	7,475	*	OraSure Technologies, Inc		83
	2,718		Owens & Minor, Inc		81
	5,380	*	Palomar Medical Technologies, Inc		51
	86,208		Patterson Cos, Inc		2,952
	4,910		Quality Systems, Inc		91
	39,293		Resmed, Inc		1,590
	3,688	*	Sirona Dental Systems, Inc		210
	56,398		Sonic Healthcare Ltd		790
	36,974		STERIS Corp		1,311
	4,400	e	Suzuken Co Ltd		146
	7,700		Sysmex Corp		370
	438,368		WellPoint, Inc		25,430
	2,100	*,e	Wright Medical Group, Inc		46
			TOTAL HEALTH CARE EQUIPMENT & SERVICES		193,624
HOUSEHOLD & PERSONAL PRODUCTS - 2.0%
	4		Avon Products, Inc		0^
	9,680		Beiersdorf AG.		711
	37,182		Clorox Co		2,679
	385,277		Colgate-Palmolive Co		41,309
	281,616		Estee Lauder Cos (Class A)		17,338
	210		Henkel KGaA		14
	156,880		Henkel KGaA (Preference)		12,497
	23,052		Herbalife Ltd		1,093
	181,200	e	Kao Corp		5,328
	404,665		Kimberly-Clark Corp		34,712
	63,795		L’Oreal S.A.		7,888
	44,575	*	Medifast, Inc		1,166
	16,029	e	Nu Skin Enterprises, Inc (Class A)		622
	1,289,262		Procter & Gamble Co		89,424
	152,666		Reckitt Benckiser Group plc		8,796
	3,300	*	Schiff Nutrition International, Inc		80
	145,090		Svenska Cellulosa AB (B Shares)		2,697
			TOTAL HOUSEHOLD & PERSONAL PRODUCTS		226,354

369

COLLEGE RETIREMENT EQUITIES FUND - Social Choice Account

SHARES			COMPANY	VALUE (000)
INSURANCE - 3.5%
	441,515		ACE Ltd	$	33,379
	600,257		Aflac, Inc		28,740
	4,400		American Equity Investment Life Holding Co		51
	1,540,887		AMP Ltd		6,884
	1,200	e	Amtrust Financial Services, Inc		31
	61,969	*	Arch Capital Group Ltd		2,583
	13,380		Arthur J. Gallagher & Co		479
	131,054		Aspen Insurance Holdings Ltd		3,996
	421,903		Assicurazioni Generali S.p.A.		6,082
	94,531		Assurant, Inc		3,526
	30,787		Axis Capital Holdings Ltd		1,075
	879,757	*	Berkshire Hathaway, Inc (Class B)		77,595
	420,453		Chubb Corp		32,072
	444,576		Cincinnati Financial Corp		16,845
	280,593		CNP Assurances		3,662
	102,203		Delta Lloyd NV		1,554
	1,400		Donegal Group, Inc (Class A)		20
	4,146	*	eHealth, Inc		78
	2,400		Employers Holdings, Inc		44
	54,550		Endurance Specialty Holdings Ltd		2,100
	11,630		First American Financial Corp		252
	608,847	*	Genworth Financial, Inc (Class A)		3,184
	3,500	*	Hilltop Holdings, Inc		44
	588,027		Insurance Australia Group Ltd		2,652
	1,916		Kemper Corp		59
	4,990	*	Markel Corp		2,288
	36,551		Marsh & McLennan Cos, Inc		1,240
	4,850		Meadowbrook Insurance Group, Inc		37
	123,177		Montpelier Re Holdings Ltd		2,726
	75,286		Muenchener Rueckver AG.		11,772
	59,105	*	National Financial Partners Corp		999
	700	*	Navigators Group, Inc		34
	2,849,807		Old Mutual plc		7,840
	13,746		PartnerRe Ltd		1,021
	21,807	*	Phoenix Cos, Inc		669
	56,579		Platinum Underwriters Holdings Ltd		2,312
	2,297		Primerica, Inc		66
	357,357		Principal Financial Group		9,627
	2,039		ProAssurance Corp		184
	929,925		Progressive Corp		19,287
	42,513		Protective Life Corp		1,114
	523,933		Prudential Financial, Inc		28,560
	912,978		Prudential plc		11,855
	5,153		RenaissanceRe Holdings Ltd		397
	1,421		RLI Corp		95
	2,022,246	e	Royal & Sun Alliance Insurance Group plc		3,615
	900		Safety Insurance Group, Inc		41
	6,001		SeaBright Insurance Holdings, Inc		66
	2,400		Selective Insurance Group, Inc		46
	2,490		Stancorp Financial Group, Inc		78
	1,244,153		Standard Life plc		5,492
	13,455		Stewart Information Services Corp		271

370

COLLEGE RETIREMENT EQUITIES FUND - Social Choice Account

SHARES			COMPANY	VALUE (000)
	169,853		Swiss Re Ltd	$	10,929
	177,900		T&D Holdings, Inc		1,921
	489,343		Travelers Cos, Inc		33,403
	800		TrygVesta AS		52
			TOTAL INSURANCE		385,024
MATERIALS - 4.0%
	70,158		Agnico-Eagle Mines Ltd		3,640
	23,600		Agrium, Inc (Toronto)		2,449
	96,390		Air Liquide		11,948
	308,797		Air Products & Chemicals, Inc		25,538
	21,000		Air Water, Inc		257
	23,600		Akzo Nobel NV		1,333
	744,736		Alcoa, Inc		6,591
	63,652		Allegheny Technologies, Inc		2,030
	148,535	*,e	Allied Nevada Gold Corp		5,802
	1,698,817	e	Alumina Ltd		1,479
	128,690		AMCOL International Corp		4,360
	92,400		Amcor Ltd		741
	335,241		Antofagasta plc		6,856
	26,351		Aptargroup, Inc		1,363
	232,000	e	Asahi Kasei Corp		1,196
	63,073		Ball Corp		2,669
	132,610		BASF AG.		11,205
	48,884		Bemis Co, Inc		1,538
	4,600		Boise, Inc		40
	244,955	e	Boliden AB		4,097
	19,427	e	Boral Ltd		77
	56,508		Buckeye Technologies, Inc		1,812
	8,161		Carpenter Technology Corp		427
	44,916		Celanese Corp (Series A)		1,703
	2,372	*	Clearwater Paper Corp		98
	211,732		Cleveland-Cliffs, Inc		8,285
	174,133	*	Coeur d’Alene Mines Corp		5,020
	131,361		Commercial Metals Co		1,734
	14,183		Compass Minerals International, Inc		1,058
	295,427		CRH plc		5,674
	17,000	e	Daido Steel Co Ltd		79
	5,617		Domtar Corp		440
	9,400		DSM NV		469
	36,695		Eastman Chemical Co		2,092
	431,791		Ecolab, Inc		27,984
	5,690	*	Ferro Corp		20
	646,464	e	Fletcher Building Ltd		3,721
	33,738	*,e	Flotek Industries, Inc		427
	958,826	e	Fortescue Metals Group Ltd		3,437
	10,900	*,e	Franco-Nevada Corp		643
	72,620		Fresnillo plc		2,180
	74,210	*	General Moly, Inc		235
	2,179		Givaudan S.A.		2,069
	2,623		Globe Specialty Metals, Inc		40
	94,290		H.B. Fuller Co		2,893

371

COLLEGE RETIREMENT EQUITIES FUND - Social Choice Account

SHARES			COMPANY	VALUE (000)
	48,214		HeidelbergCement AG.	$	2,532
	50,000	e	Hitachi Metals Ltd		445
	3,600		Holmen AB (B Shares)		98
	900		Imerys S.A.		53
	23,190		Innophos Holdings, Inc		1,124
	9,797		International Flavors & Fragrances, Inc		584
	238,995		International Paper Co		8,680
	10,464		Johnson Matthey plc		409
	48,900	e	JSR Corp		800
	77,699		K&S AG.		3,828
	38,000	e	Kaneka Corp		183
	438,100		Kinross Gold Corp		4,483
	643,000	*,e	Kobe Steel Ltd		509
	7,764	*	Kraton Polymers LLC		203
	10,783	e	Kronos Worldwide, Inc		161
	58,000	e	Kuraray Co Ltd		659
	46,374		Linde AG.		7,993
	100,634	e	Lonmin plc		909
	173,029	*	Louisiana-Pacific Corp		2,163
	617,655		LyondellBasell Industries AF S.C.A		31,907
	64,942	*	McEwen Mining, Inc		298
	212,757		MeadWestvaco Corp		6,510
	26,544		Minerals Technologies, Inc		1,883
	330,500	e	Mitsubishi Chemical Holdings Corp		1,262
	48,000		Mitsubishi Gas Chemical Co, Inc		241
	120,960	e	Mitsui Chemicals, Inc		236
	36,615	*,e	Molycorp, Inc		421
	2,100		Myers Industries, Inc		33
	2,220		Neenah Paper, Inc		64
	287,983		Newcrest Mining Ltd		8,658
	2,166,000	*,e	Nippon Steel Corp		4,435
	31,500		Nitto Denko Corp		1,499
	996,190		Norsk Hydro ASA		4,681
	31,650		Novozymes AS		873
	532,256		Nucor Corp		20,365
	6,000	*	Omnova Solutions, Inc		45
	53,242		Orica Ltd		1,369
	102,000	*	Osisko Mining Corp		1,011
	64,561	*	Owens-Illinois, Inc		1,211
	244,656		Oxiana Ltd		1,698
	11,843		PolyOne Corp		196
	123,900		Potash Corp of Saskatchewan Toronto		5,385
	316,008		Praxair, Inc		32,826
	1,380		Quaker Chemical Corp		64
	43,300		Rexam plc		305
	6,623		Rock-Tenn Co (Class A)		478
	15,925		Rockwood Holdings, Inc		742
	144,474		Royal Gold, Inc		14,428
	6,424	*	RTI International Metals, Inc		154
	34,094		Salzgitter AG.		1,319
	850		Schnitzer Steel Industries, Inc (Class A)		24
	18,931		Sealed Air Corp		293

372

COLLEGE RETIREMENT EQUITIES FUND - Social Choice Account

SHARES			COMPANY	VALUE (000)
	17,916		Sherwin-Williams Co	$	2,668
	92,200	e	Shin-Etsu Chemical Co Ltd		5,182
	215,146		Sigma-Aldrich Corp		15,484
	802		Sika AG.		1,636
	90,000		Silver Wheaton Corp		3,578
	76,875	e	Sims Group Ltd		760
	10,200		Solvay S.A.		1,182
	107,012		Sonoco Products Co		3,316
	116,207	e	Ssab Svenskt Stal AB (Series A)		827
	600		Stepan Co		58
	74,982	*	Stillwater Mining Co		884
	334,517		Stora Enso Oyj (R Shares)		2,084
	360,000	e	Sumitomo Chemical Co Ltd		917
	1,555,000	e	Sumitomo Metal Industries Ltd		2,282
	374,000		Sumitomo Metal Mining Co Ltd		4,705
	29,857	*	SunCoke Energy, Inc		481
	18,285		Syngenta AG.		6,840
	42,000	e	Taiyo Nippon Sanso Corp		221
	248,600		Teck Cominco Ltd		7,336
	74,000	e	Teijin Ltd		181
	1,300	*	Texas Petrochemicals, Inc		53
	49,562	e	Titanium Metals Corp		636
	305,000	e	Toray Industries, Inc		1,804
	41,000	e	Tosoh Corp		78
	117,300		Toyo Seikan Kaisha Ltd		1,253
	69,914		Tredegar Corp		1,240
	268,000		UBE Industries Ltd		575
	15,649	e	Umicore		819
	198,855		UPM-Kymmene Oyj		2,255
	60,125		Valspar Corp		3,373
	10,526	e	Wacker Chemie AG.		677
	10,800		Wausau Paper Corp		100
	14,852	e	Westlake Chemical Corp		1,085
	300,696	*	Worthington Industries, Inc		6,513
	749,523		Xstrata plc		11,628
	320,500	e	Yamana Gold, Inc		6,122
			TOTAL MATERIALS		447,312
MEDIA - 1.5%
	5,927		Arbitron, Inc		225
	217,810		British Sky Broadcasting plc		2,614
	185,416		Cablevision Systems Corp (Class A)		2,939
	19,805		Cinemark Holdings, Inc		444
	10,955		Clear Channel Outdoor Holdings, Inc (Class A)		66
	2,120	*,e	Digital Generation, Inc		24
	432,040	*	Discovery Communications, Inc (Class A)		25,763
	57,029	*	Discovery Communications, Inc (Class C)		3,196
	52,293	*,e	DreamWorks Animation SKG, Inc (Class A)		1,006
	22,935	*	Fisher Communications, Inc		843
	1,900		JC Decaux S.A.		43
	10,069		John Wiley & Sons, Inc (Class A)		463
	235,872	*	Journal Communications, Inc (Class A)		1,227

373

COLLEGE RETIREMENT EQUITIES FUND - Social Choice Account

SHARES			COMPANY	VALUE (000)
	15,813		Lagardere S.C.A.	$	432
	296,476	*	Liberty Global, Inc (Class A)		18,011
	4,213	*	Liberty Global, Inc (Series C)		238
	4,052	*	Liberty Interactive LLC		422
	18,676	e	Martha Stewart Living Omnimedia, Inc (Class A)		57
	35,966	*,e	McClatchy Co (Class A)		80
	1,500		Modern Times Group AB (B Shares)		66
	228,929	*	New York Times Co (Class A)		2,234
	551,411		Pearson plc		10,779
	18,429		ProSiebenSat.1 Media AG.		465
	1,550		Scholastic Corp		49
	15,051		Scripps Networks Interactive (Class A)		922
	1,067,000	e	Singapore Press Holdings Ltd		3,532
	200,961	e	Thomson Corp (Toronto)		5,809
	386,105		Time Warner Cable, Inc		36,702
	301,906		Time Warner, Inc		13,685
	52,156	*,e	Valassis Communications, Inc		1,288
	358,951	e	Virgin Media, Inc		10,568
	20,310	e	Washington Post Co (Class B)		7,373
	46,200		Wolters Kluwer NV		868
	683,960		WPP plc		9,316
			TOTAL MEDIA		161,749
PHARMACEUTICALS, BIOTECHNOLOGY & LIFE SCIENCES - 4.7%
	897,260		Abbott Laboratories		61,516
	1,969	*	Acorda Therapeutics, Inc		50
	17,804	*,e	Affymetrix, Inc		77
	375,014		Agilent Technologies, Inc		14,419
	107,729	*	Akorn, Inc		1,424
	152,572	*	Ariad Pharmaceuticals, Inc		3,696
	7,946	*	Arqule, Inc		41
	174,280	e	Astellas Pharma, Inc		8,832
	13,554	*	Auxilium Pharmaceuticals, Inc		332
	14,449	*	BioCryst Pharmaceuticals, Inc		61
	249,076	*	Biogen Idec, Inc		37,170
	57,262		Biovail Corp (Toronto)		3,160
	1,235,781		Bristol-Myers Squibb Co		41,708
	8,887	*,e	Cadence Pharmaceuticals, Inc		35
	9,467	*	Cambrex Corp		111
	57,720	*	Cepheid, Inc		1,992
	180,400		Chugai Pharmaceutical Co Ltd		3,781
	19,300	e	Dainippon Sumitomo Pharma Co Ltd		212
	49,400	e	Eisai Co Ltd		2,225
	130,212	*	Endo Pharmaceuticals Holdings, Inc		4,130
	4,664	*	Genomic Health, Inc		162
	29,826	*,e	Geron Corp		51
	669,860	*	Gilead Sciences, Inc		44,432
	963,615		GlaxoSmithKline plc		22,243
	4,270	*,e	Immunogen, Inc		62
	15,329	*,e	Immunomedics, Inc		54
	117,675	*,e	Incyte Corp		2,124
	1,276,850		Johnson & Johnson		87,987

374

COLLEGE RETIREMENT EQUITIES FUND - Social Choice Account

SHARES			COMPANY	VALUE (000)
	145,415	*	Life Technologies Corp	$	7,108
	1,595,664		Merck & Co, Inc		71,963
	22,815		Merck KGaA		2,816
	2,769	*	Momenta Pharmaceuticals, Inc		40
	243,310	*,e	Nektar Therapeutics		2,599
	83,237	*	Neurocrine Biosciences, Inc		664
	429,250		Novartis AG.		26,272
	122,745		Novo Nordisk AS (Class B)		19,317
	13,693	*	Onyx Pharmaceuticals, Inc		1,157
	170,097	e	PDL BioPharma, Inc		1,308
	12,565		PerkinElmer, Inc		370
	27,366	*	Progenics Pharmaceuticals, Inc		79
	134,425		Roche Holding AG.		25,144
	83,791	*	Salix Pharmaceuticals Ltd		3,548
	38,313	*,e	Sangamo Biosciences, Inc		233
	7,000		Santen Pharmaceutical Co Ltd		321
	16,464	*,e	SIGA Technologies, Inc		53
	1,297	*,e	Synta Pharmaceuticals Corp		10
	232,800	e	Takeda Pharmaceutical Co Ltd		10,711
	6,504		Techne Corp		468
	3,140	*,e	Theravance, Inc		81
	1,800	e	Tsumura & Co		56
	16,960	*	United Therapeutics Corp		948
	18,309	*	Vertex Pharmaceuticals, Inc		1,024
	10,081	*	Viropharma, Inc		305
	251,453	*,e	Vivus, Inc		4,481
	61,330	*	Waters Corp		5,111
	10,632	*	Xenoport, Inc		122
			TOTAL PHARMACEUTICALS, BIOTECHNOLOGY & LIFE SCIENCES		528,396
REAL ESTATE - 2.2%
	58,900		Aeon Mall Co Ltd		1,438
	338,303		AMB Property Corp		11,851
	10,892		American Campus Communities, Inc		478
	479,522		American Tower Corp		34,233
	1,318,960	e	Annaly Capital Management, Inc		22,211
	120,047		Boston Properties, Inc		13,278
	248,240		British Land Co plc		2,097
	3,498,000		CapitaMall Trust		5,737
	195,955	*	CBRE Group, Inc		3,608
	192,000		CFS Gandel Retail Trust		383
	12,843		Colonial Properties Trust		270
	207,000		Daiwa House Industry Co Ltd		2,999
	2,200,199		DB RREEF Trust		2,163
	22,121	e	Douglas Emmett, Inc		510
	165,551		Duke Realty Corp		2,434
	17,634		Federal Realty Investment Trust		1,857
	300,754	*	First Industrial Realty Trust, Inc		3,952
	2,732	*	Forest City Enterprises, Inc (Class A)		43
	15,042		Gecina S.A.		1,539
	435,396		GPT Group (ASE)		1,531
	533,654		HCP, Inc		23,737

375

COLLEGE RETIREMENT EQUITIES FUND - Social Choice Account

SHARES			COMPANY	VALUE (000)
	96,553		Health Care REIT, Inc	$	5,576
	12,227	e	Healthcare Realty Trust, Inc		282
	736,502	e	Host Marriott Corp		11,821
	291,636		Land Securities Group plc		3,594
	16,682	e	LaSalle Hotel Properties		445
	59,200		Lend Lease Corp Ltd		480
	381,212		Liberty International plc		2,019
	37,196	e	Liberty Property Trust		1,348
	54,403		Macerich Co		3,113
	160,440		Macquarie Goodman Group		656
	12,227		Mid-America Apartment Communities, Inc		799
	726,832		Mirvac Group		1,075
	305,810		Mitsui Fudosan Co Ltd		6,111
	13,546		Post Properties, Inc		650
	700		PS Business Parks, Inc		47
	269,490	e	RAIT Investment Trust		1,415
	5,196		Regency Centers Corp		253
	623,984		Segro plc		2,292
	259,885		Simon Property Group, Inc		39,452
	1,155,410		Stockland Trust Group		3,986
	35,276		Unibail		7,029
	92,125		Ventas, Inc		5,735
	146,822		Vornado Realty Trust		11,900
			TOTAL REAL ESTATE		246,427
RETAILING - 2.4%
	8,224		Aaron’s, Inc		229
	16,615		Advance Auto Parts, Inc		1,137
	127,624		American Eagle Outfitters, Inc		2,690
	32,439	*	Ann Taylor Stores Corp		1,224
	48,977	*	Autozone, Inc		18,105
	19,109	*,e	Barnes & Noble, Inc		244
	214,041	*	Bed Bath & Beyond, Inc		13,485
	211,574		Best Buy Co, Inc		3,637
	810	*,e	Blue Nile, Inc		30
	7,961	*	Cabela’s, Inc		435
	11,600	e	Canadian Tire Corp Ltd		835
	81,708	*	Carmax, Inc		2,312
	21,040	*	Collective Brands, Inc		457
	12,500		Fast Retailing Co Ltd		2,903
	7,165		Finish Line, Inc (Class A)		163
	67,898		Foot Locker, Inc		2,410
	511,369		Gap, Inc		18,297
	5,856	*	Genesco, Inc		391
	262,371		Genuine Parts Co		16,012
	23,293		GNC Holdings, Inc		908
	2,200		Haverty Furniture Cos, Inc		31
	259,489		Hennes & Mauritz AB (B Shares)		9,031
	39,551		HSN, Inc		1,940
	56,720		Inditex S.A.		7,048
	51,825	e	JC Penney Co, Inc		1,259
	417,700		Kingfisher plc		1,786

376

COLLEGE RETIREMENT EQUITIES FUND - Social Choice Account

SHARES			COMPANY	VALUE (000)
	235,947		Kohl’s Corp	$	12,084
	2,891,620		Li & Fung Ltd		4,459
	488,401	*	Liberty Media Holding Corp (Interactive A)		9,036
	4,757		Lithia Motors, Inc (Class A)		158
	19,712	*	LKQ Corp		365
	1,110,793		Lowe’s Companies, Inc		33,590
	203,285		Macy’s, Inc		7,648
	210,991		Marks & Spencer Group plc		1,218
	6,288	*	New York & Co, Inc		24
	6,625		Next plc		370
	66,728		Nordstrom, Inc		3,682
	150,056	*	Office Depot, Inc		384
	25,011		OfficeMax, Inc		195
	9,311	*	O’Reilly Automotive, Inc		779
	39,348		Petsmart, Inc		2,714
	35,119		Pier 1 Imports, Inc		658
	19,551	e	RadioShack Corp		47
	16,391		Ross Stores, Inc		1,059
	23,447	*	Sally Beauty Holdings, Inc		588
	2,700		Shoe Carnival, Inc		64
	9,136	*,e	Shutterfly, Inc		284
	14,679		Signet Jewelers Ltd		716
	594,896	e	Staples, Inc		6,853
	3,300		Stein Mart, Inc		28
	602,612		Target Corp		38,247
	16,714		Tiffany & Co		1,034
	788,159		TJX Companies, Inc		35,301
	10,000	*	Tuesday Morning Corp		66
	11,100	e	Yamada Denki Co Ltd		487
			TOTAL RETAILING		269,137
SEMICONDUCTORS & SEMICONDUCTOR EQUIPMENT - 1.4%
	80,003	*	Advanced Energy Industries, Inc		986
	1,090,384	*,e	Advanced Micro Devices, Inc		3,675
	124,983		Analog Devices, Inc		4,898
	2,144,668		Applied Materials, Inc		23,945
	106,924		ASML Holding NV		5,719
	7,922		Cabot Microelectronics Corp		278
	15,582	*	Cirrus Logic, Inc		598
	3,235	*	Cymer, Inc		165
	22,358		Cypress Semiconductor Corp		240
	2,380	*	Diodes, Inc		40
	114,773	*	Entegris, Inc		933
	7,010	*,e	GT Solar International, Inc		38
	7,300	*	Integrated Device Technology, Inc		43
	2,538,832		Intel Corp		57,580
	6,138	*	International Rectifier Corp		102
	11,438		Intersil Corp (Class A)		100
	4,049	*	IXYS Corp		40
	21,682	*	Lam Research Corp		689
	60,054	*	Lattice Semiconductor Corp		230
	27,338	*	LTX-Credence Corp		157

377

COLLEGE RETIREMENT EQUITIES FUND - Social Choice Account

SHARES			COMPANY	VALUE (000)
	3,840		Micrel, Inc	$	40
	14,625	e	Microchip Technology, Inc		479
	2,671	*	Microsemi Corp		54
	9,990	*,e	Mindspeed Technologies, Inc		35
	20,792		MKS Instruments, Inc		530
	605,663	*	Nvidia Corp		8,080
	18,941	*	Omnivision Technologies, Inc		264
	541,931	*	ON Semiconductor Corp		3,344
	1,300		Power Integrations, Inc		40
	4,329	*,e	Rambus, Inc		24
	88,030	*	RF Micro Devices, Inc		348
	21,400		Rohm Co Ltd		721
	9,021	*	Rudolph Technologies, Inc		95
	23,614	*	Sigma Designs, Inc		156
	97,903	*	Skyworks Solutions, Inc		2,307
	266,513		STMicroelectronics NV		1,438
	141,552	*,e	SunPower Corp		638
	40,230	*	Teradyne, Inc		572
	1,178,654		Texas Instruments, Inc		32,472
	41,101	*	Triquint Semiconductor, Inc		208
	12,987	*	Ultratech, Inc		408
			TOTAL SEMICONDUCTORS & SEMICONDUCTOR EQUIPMENT		152,709
SOFTWARE & SERVICES - 4.6%
	602,161		Accenture plc		42,169
	528,194	*	Adobe Systems, Inc		17,145
	1,660	*	Advent Software, Inc		41
	21,351	*	AOL, Inc		752
	201,046	*	Autodesk, Inc		6,709
	7,303	*	Blucora, Inc		130
	128,405		Broadridge Financial Solutions, Inc		2,996
	485,524		CA, Inc		12,510
	24,502	*	Cadence Design Systems, Inc		315
	24,400	*,e	CGI Group, Inc		655
	103,104	*	Citrix Systems, Inc		7,895
	421,935	*	Cognizant Technology Solutions Corp (Class A)		29,502
	47,900		Computershare Ltd		411
	124,867	*	Compuware Corp		1,237
	20,058		Convergys Corp		314
	94,949		Earthlink, Inc		676
	2,100		EPIQ Systems, Inc		28
	6,214		Factset Research Systems, Inc		599
	5,718		Fair Isaac Corp		253
	30,365	*	Fortinet, Inc		733
	13,395		Global Payments, Inc		560
	123,129	*	Google, Inc (Class A)		92,901
	2,815	*,e	Higher One Holdings, Inc		38
	91,530	*	Informatica Corp		3,186
	484,367		International Business Machines Corp		100,482
	429,499		Intuit, Inc		25,289
	1,740	e	j2 Global, Inc		57
	1,810	*	JDA Software Group, Inc		58

378

COLLEGE RETIREMENT EQUITIES FUND - Social Choice Account

SHARES			COMPANY	VALUE (000)
	24,152	*	Knot, Inc	$	202
	28,341	*	Liquidity Services, Inc		1,423
	7,188		ModusLink Global Solutions, Inc		27
	6,962	*	NetSuite, Inc		444
	19,743	*	NeuStar, Inc (Class A)		790
	165,999		NIC, Inc		2,457
	10,700		Nomura Research Institute Ltd		221
	204	e	NTT Data Corp		640
	28,887	*	Nuance Communications, Inc		719
	3,900	*	Open Text Corp		215
	6,221	*,e	OpenTable, Inc		259
	2,066,588		Oracle Corp		65,077
	7,887	*	Rovi Corp		114
	188,322	*	Salesforce.com, Inc		28,755
	228,532		SAP AG.		16,263
	10,057	*	Seachange International, Inc		79
	15,466	*	SolarWinds, Inc		862
	2,000	*	SPS Commerce, Inc		77
	948,597	*	Symantec Corp		17,075
	20,999	*	Teradata Corp		1,584
	18,709	*	Ultimate Software Group, Inc		1,910
	16,010	*	Unisys Corp		333
	14,487	*	Valueclick, Inc		249
	1,888,418	*	Yahoo!, Inc		30,167
			TOTAL SOFTWARE & SERVICES		517,583
TECHNOLOGY HARDWARE & EQUIPMENT - 2.6%
	57,056	*,e	Acme Packet, Inc		976
	8,103	e	Adtran, Inc		140
	116,347	*,e	Aruba Networks, Inc		2,616
	11,531	*	Avid Technology, Inc		109
	24,158	*	Benchmark Electronics, Inc		369
	900		Black Box Corp		23
	36,913	*,e	Bookham, Inc		100
	25,500	e	Brother Industries Ltd		236
	3,303	*	Calix Networks, Inc		21
	227,500		Canon, Inc		7,302
	3,145,547		Cisco Systems, Inc		60,049
	4,800		Cognex Corp		166
	909	*	Coherent, Inc		42
	208,957		Corning, Inc		2,747
	147,371	*	Cray, Inc		1,872
	2,036,538		Dell, Inc		20,080
	4,840	*	Digi International, Inc		49
	3,605	*	DTS, Inc		84
	1,630,608	*	EMC Corp		44,468
	3,633		FEI Co		194
	103,068	*,e	Finisar Corp		1,474
	90,753	*	Flextronics International Ltd		545
	186,200	e	Fuji Folms Holdings Corp		3,118
	592,000	e	Fujitsu Ltd		2,222
	37,319	*,e	Fusion-io, Inc		1,130

379

COLLEGE RETIREMENT EQUITIES FUND - Social Choice Account

SHARES			COMPANY	VALUE (000)
	1,416,704		Hewlett-Packard Co	$	24,169
	5,600		Hitachi High-Technologies Corp		135
	28,700	*,e	Ibiden Co Ltd		420
	10,802	*	Imation Corp		60
	11,854	*,e	Infinera Corp		65
	43,639	*	Ingram Micro, Inc (Class A)		665
	28,741	e	InterDigital, Inc		1,071
	22,664	*	Intevac, Inc		138
	30,066	*,e	IPG Photonics Corp		1,723
	1,920	*	Itron, Inc		83
	58,850		Jabil Circuit, Inc		1,102
	118,500	e	Konica Minolta Holdings, Inc		912
	34,600	e	Kyocera Corp		2,997
	54,381	e	Lexmark International, Inc (Class A)		1,210
	1,068		Littelfuse, Inc		60
	900	e	Molex, Inc		24
	468,260		Motorola, Inc		23,671
	32,300	e	Murata Manufacturing Co Ltd		1,720
	2,100		National Instruments Corp		53
	7,919	*	Netgear, Inc		302
	1,185,120	e	Nokia Oyj		3,076
	45,500		Omron Corp		874
	69,596	*	Oplink Communications, Inc		1,151
	500	*	OSI Systems, Inc		39
	48,940		Plantronics, Inc		1,729
	1,420	*	Plexus Corp		43
	100,439	*	Polycom, Inc		991
	231,781	*	Power-One, Inc		1,298
	705,032		Qualcomm, Inc		44,057
	903,685	*	Quantum Corp		1,455
	112,997	*	Radisys Corp		407
	163,000	e	Ricoh Co Ltd		1,376
	2,500	*	Rofin-Sinar Technologies, Inc		49
	1,300	*	Scansource, Inc		42
	15,000	*	ShoreTel, Inc		61
	53,527	*	STEC, Inc		361
	6,268	*	Super Micro Computer, Inc		75
	8,445		Sycamore Networks, Inc		130
	20,433	*,e	Synaptics, Inc		491
	20,700	e	TDK Corp		770
	4,637	*	Tech Data Corp		210
	232,684		Tellabs, Inc		824
	13,773	*	TTM Technologies, Inc		130
	10,708	*,e	Universal Display Corp		368
	2,708	*	Vishay Precision Group, Inc		38
	2,622,193		Xerox Corp		19,247
			TOTAL TECHNOLOGY HARDWARE & EQUIPMENT		290,004
TELECOMMUNICATION SERVICES - 1.5%
	128,800	e	BCE, Inc		5,666
	801,157		CenturyTel, Inc		32,366
	161,417	*	Cincinnati Bell, Inc		920

380

COLLEGE RETIREMENT EQUITIES FUND - Social Choice Account

SHARES			COMPANY	VALUE (000)
	289,770	*	Crown Castle International Corp	$	18,574
	594,730		France Telecom S.A.		7,202
	1,648,150	e	Frontier Communications Corp		8,076
	5,000	*,e	Iridium Communications, Inc		37
	89,400	e	KDDI Corp		6,934
	29,997	*	Level 3 Communications, Inc		689
	5,326	e	NTT DoCoMo, Inc		8,605
	219,990		Portugal Telecom SGPS S.A.		1,087
	86,400	e	Rogers Communications, Inc (Class B)		3,498
	23,411	*	SBA Communications Corp (Class A)		1,473
	166,700	*,e	Softbank Corp		6,740
	3,141,599	*	Sprint Nextel Corp		17,342
	2,598,797		Telecom Italia S.p.A.		2,611
	42,900		Telekom Austria AG.		303
	699,891		TeliaSonera AB		5,036
	68,610	*	tw telecom inc (Class A)		1,789
	2,448	*,e	US Cellular Corp		96
	1,580		USA Mobility, Inc		19
	8,830,263		Vodafone Group plc		25,092
	885,752	e	Windstream Corp		8,955
			TOTAL TELECOMMUNICATION SERVICES		163,110
TRANSPORTATION - 1.4%
	191,775		Abertis Infraestructuras S.A. (Continuous)		2,826
	11,311	*	Alaska Air Group, Inc		397
	800	*	Allegiant Travel Co		51
	639,647		Auckland International Airport Ltd		1,388
	104,766		Autostrade S.p.A.		1,630
	24,956	*	Avis Budget Group, Inc		384
	101,600	e	Canadian National Railway Co		8,990
	1,437,000		Cathay Pacific Airways Ltd		2,326
	30,500		Central Japan Railway Co		2,677
	3		CH Robinson Worldwide, Inc		0^
	1,070,310		CSX Corp		22,210
	134,669		Deutsche Lufthansa AG.		1,828
	534,498		Deutsche Post AG.		10,442
	71,700		East Japan Railway Co		4,744
	5		Expeditors International Washington, Inc		0^
	5,413		Fraport AG. Frankfurt Airport Services Worldwide		313
	231	*	Genesee & Wyoming, Inc (Class A)		15
	5,000	*	Hawaiian Holdings, Inc		28
	5,334		Heartland Express, Inc		71
	66,237	*	International Consolidated Airlines		159
	1,861		International Shipholding Corp		31
	7,938		J.B. Hunt Transport Services, Inc		413
	153,000	*,e	Kawasaki Kisen Kaisha Ltd		192
	41,000	e	Keihin Electric Express Railway Co Ltd		386
	56,000	e	Keio Corp		422
	103,000	e	Mitsui OSK Lines Ltd		240
	2,037,197		MTR Corp		7,701
	282,965		Norfolk Southern Corp		18,005
	102,900	e	Odakyu Electric Railway Co Ltd		1,081

381

COLLEGE RETIREMENT EQUITIES FUND - Social Choice Account

SHARES			COMPANY	VALUE (000)
	413,000	e	Singapore Airlines Ltd	$	3,605
	669,724		Southwest Airlines Co		5,872
	102,000	e	Tobu Railway Co Ltd		549
	228,000	e	Tokyu Corp		1,089
	129,031		Transurban Group		800
	160,145		Union Pacific Corp		19,010
	538,354		United Parcel Service, Inc (Class B)		38,530
	105,100	e	Yamato Transport Co Ltd		1,662
			TOTAL TRANSPORTATION		160,067
UTILITIES - 2.7%
	5,000		Acciona S.A.		285
	29,868		AGL Energy Ltd		463
	4,000		American States Water Co		178
	13,544		American Water Works Co, Inc		502
	161,218		Atmos Energy Corp		5,770
	257,758	*	Calpine Corp		4,459
	9,700	e	Canadian Utilities Ltd		678
	255,104		Centerpoint Energy, Inc		5,434
	837,282		Centrica plc		4,431
	23,077		CH Energy Group, Inc		1,505
	3,130		Chesapeake Utilities Corp		148
	42,300	e	Chugoku Electric Power Co, Inc		562
	393,559		Cleco Corp		16,522
	881,500		CLP Holdings Ltd		7,482
	431,193		Consolidated Edison, Inc		25,823
	211,007	*	Contact Energy Ltd		923
	2,474		Empire District Electric Co		53
	287,258		Enel Green Power S.p.A		487
	714,259		Energias de Portugal S.A.		1,962
	170,084		Gas Natural SDG S.A.		2,407
	2,517,942		Hong Kong & China Gas Ltd		6,365
	1,066,333		Iberdrola S.A.		4,835
	337,152		Idacorp, Inc		14,589
	7,771		Integrys Energy Group, Inc		406
	14,132	e	ITC Holdings Corp		1,068
	14,435		MDU Resources Group, Inc		318
	67,199		MGE Energy, Inc		3,561
	1,088,320		National Grid plc		12,005
	29,147		New Jersey Resources Corp		1,333
	503,865		NextEra Energy, Inc		35,436
	620,350		NiSource, Inc		15,807
	334,247		Northeast Utilities		12,778
	20,077		Northwest Natural Gas Co		989
	455,474		NV Energy, Inc		8,203
	68,613		Oest Elektrizitatswirts AG. (Class A)		1,421
	153,232		Oneok, Inc		7,402
	1,420		Ormat Technologies, Inc		27
	897,000	e	Osaka Gas Co Ltd		3,947
	814,693		Pepco Holdings, Inc		15,398
	486,755		PG&E Corp		20,769
	208,455		Piedmont Natural Gas Co, Inc		6,770

382

COLLEGE RETIREMENT EQUITIES FUND - Social Choice Account

SHARES			COMPANY	VALUE (000)
	11,683		Pinnacle West Capital Corp	$	617
	9,375		PNM Resources, Inc		197
	8,428		Portland General Electric Co		228
	455,571		Scottish & Southern Energy plc		10,252
	254,919		Sempra Energy		16,440
	23,900	e	Shikoku Electric Power Co, Inc		269
	30,331		SJW Corp		768
	354,000		Snam Rete Gas S.p.A.		1,570
	69,460		South Jersey Industries, Inc		3,677
	54,917		SP AusNet		60
	50,626	e	Suez Environnement S.A.		573
	27,532		TECO Energy, Inc		488
	179,100		Terna Rete Elettrica Nazionale S.p.A.		668
	722,790		Tokyo Gas Co Ltd		3,975
	12,300	e	TransAlta Corp		188
	11,190		UGI Corp		355
	27,300		United Utilities Group plc		316
	5,427		UNS Energy Corp		227
	6,615		Vectren Corp		189
	99,135		Veolia Environnement		1,067
	14,905		Westar Energy, Inc		442
	66,135		WGL Holdings, Inc		2,662
	42,159		Wisconsin Energy Corp		1,588
	98,438		Xcel Energy, Inc		2,728
			TOTAL UTILITIES		303,045
			TOTAL COMMON STOCKS		6,735,151
			(Cost $5,585,048)

SHARES			COMPANY
PREFERRED STOCKS - 0.1%
BANKS - 0.1%
	233,115	*	Federal Home Loan Mortgage Corp (FHLMC)	198
	740,991	*	Federal National Mortgage Association (FNMA)	645
	14,500	*	M&T Bank Corp	14,967
			TOTAL BANKS	15,810
			TOTAL PREFERRED STOCKS	15,810
			(Cost $38,865)
RIGHTS / WARRANTS - 0.0%
ENERGY - 0.0%
	50,627		Cie Generale de Geophysique-Veritas	82
			TOTAL ENERGY	82
RETAILING - 0.0%
	8,140		Liberty Ventures	110
			TOTAL RETAILING	110
			TOTAL RIGHTS / WARRANTS	192
			(Cost $85)

383

COLLEGE RETIREMENT EQUITIES FUND - Social Choice Account

PRINCIPAL			ISSUER	RATE		MATURITY DATE	VALUE 000
SHORT-TERM INVESTMENTS - 13.3%
TREASURY DEBT - 8.9%
$	92,700,000		United States Treasury Bill	0.088	%	10/11/12	$	92,698
	360,300,000	d	United States Treasury Bill	0.060-0.102		10/18/12		360,285
	5,900,000	d	United States Treasury Bill	0.095		11/01/12		5,900
	17,500,000	d	United States Treasury Bill	0.090-0.104		11/08/12		17,498
	88,700,000	d	United States Treasury Bill	0.105		11/15/12		88,688
	80,100,000	d	United States Treasury Bill	0.095		11/29/12		80,092
	50,000,000		United States Treasury Bill	0.090		12/06/12		49,993
	143,000,000	d	United States Treasury Bill	0.090-0.146		12/13/12		142,975
	35,000,000		United States Treasury Bill	0.068		01/17/13		34,992
	99,700,000	d	United States Treasury Bill	0.103		02/14/13		99,660
	20,995,000		United States Treasury Bill	0.118		02/21/13		20,986
			TOTAL TREASURY DEBT					993,767
INVESTMENT OF CASH COLLATERAL FOR SECURITIES LOANED - 4.4%
GOVERNMENT AGENCY DEBT - 1.1%
	73,000,000		Federal Home Loan Bank (FHLB)	0.115		11/09/12		72,991
	20,000,000		Federal Home Loan Bank (FHLB)	0.115		11/14/12		19,997
	25,000,000		Federal Home Loan Bank (FHLB)	0.075		11/30/12		24,999
			TOTAL GOVERNMENT AGENCY DEBT					117,987
TREASURY DEBT - 3.3%
	30,000,000		United States Treasury Bill	0.103		10/04/12		30,000
	20,000,000		United States Treasury Bill	0.057-0.075		10/11/12		20,000
	44,000,000		United States Treasury Bill	0.068-0.073		10/18/12		43,999
	33,000,000		United States Treasury Bill	0.040-0.104		10/25/12		32,998
	23,000,000		United States Treasury Bill	0.111		11/08/12		22,997
	5,000,000		United States Treasury Bill	0.090		11/29/12		4,999
	53,000,000		United States Treasury Bill	0.090-0.120		12/06/12		52,992
	61,000,000		United States Treasury Bill	0.093-0.100		12/13/12		60,990
	15,000,000		United States Treasury Bill	0.097		12/20/12		14,997
	28,000,000		United States Treasury Bill	0.145		12/27/12		27,994
	50,000,000		United States Treasury Bill	0.068		01/17/13		49,989
	15,000,000		United States Treasury Bill	0.119		02/21/13		14,993
			TOTAL TREASURY DEBT					376,948
			TOTAL INVESTMENT OF CASH COLLATERAL FOR SECURITIES LOANED					494,935
			TOTAL SHORT-TERM INVESTMENTS					1,488,702
			(Cost $1,488,681)
			TOTAL INVESTMENTS - 111.4%					12,428,736
			(Cost $11,090,280)
			OTHER ASSETS & LIABILITIES, NET - (11.4)%					(1,267,455	)
			NET ASSETS - 100.0%				$	11,161,281

384

COLLEGE RETIREMENT EQUITIES FUND - Social Choice Account

	Abbreviation(s):
REIT	Real Estate Investment Trust
*	Non-income producing.
^	Amount represents less than $1,000.
d	All or a portion of these securities have been segregated by the custodian to cover collateral requirements on mortgage dollar rolls.
e	All or a portion of these securities are out on loan. The aggregate value of securities on loan is $486,669,000.
g	Security is exempt from registration under Rule 144(A) of the Securities Act of 1933 and may be resold in transactions exempt from registration to qualified institutional buyers. At September 30, 2012 the aggregate value of these securities amounted to $248,870,000 or 2.2% of net assets.
h	All or a portion of these securities were purchased on a delayed delivery basis.
i	Floating or variable rate security. Coupon rate reflects the rate at period end.
j	Zero coupon
m	Indicates a security that has been deemed illiquid.
	Cost amounts are in thousands.

385

COLLEGE RETIREMENT EQUITIES FUND - Money Market Account

COLLEGE RETIREMENT EQUITIES FUND
MONEY MARKET ACCOUNT
SCHEDULE OF INVESTMENTS (unaudited)
September 30, 2012

PRINCIPAL			ISSUER	RATE		MATURITY DATE	VALUE (000)
SHORT-TERM INVESTMENTS - 99.6%
CERTIFICATE OF DEPOSIT - 3.7%
$	50,000,000		Bank of Montreal Chicago	0.150	%	10/01/12	$	50,000
	26,705,000		Bank of Nova Scotia	0.340		12/11/12		26,705
	30,000,000		Standard Chartered Bank	0.320		10/12/12		30,000
	50,000,000		Standard Chartered Bank	0.510		10/17/12		50,000
	50,000,000		Toronto-Dominion Bank	0.165		10/01/12		50,000
	50,000,000		Toronto-Dominion Bank	0.170		10/16/12		50,000
	25,000,000		Toronto-Dominion Bank	0.160		10/23/12		25,000
	30,000,000		Toronto-Dominion Bank	0.170		10/30/12		30,000
	25,000,000		Toronto-Dominion Bank	0.170		11/20/12		25,000
	50,000,000		Toronto-Dominion Bank	0.165		11/27/12		50,000
			TOTAL CERTIFICATE OF DEPOSIT					386,705
COMMERCIAL PAPER - 30.7%
	30,000,000		Australia & New Zealand Banking Group Ltd	0.200		11/08/12		29,994
	32,250,000		Australia & New Zealand Banking Group Ltd	0.200		11/09/12		32,243
	20,000,000		Bank of Nova Scotia	0.125		10/02/12		20,000
	40,000,000		Bank of Nova Scotia	0.205		10/10/12		39,998
	30,000,000		Bank of Nova Scotia	0.165		11/05/12		29,995
	20,000,000		Bank of Nova Scotia	0.140		11/27/12		19,996
	3,500,000		Bank of Nova Scotia	0.190		11/30/12		3,499
	8,200,000		Canadian Imperial Holdings, Inc	0.150		10/03/12		8,200
	17,700,000		Caterpillar Financial Services Corp	0.150		11/02/12		17,698
	7,180,000	y	Coca-Cola Co	0.215		10/02/12		7,180
	9,750,000	y	Coca-Cola Co	0.215		10/03/12		9,750
	5,900,000	y	Coca-Cola Co	0.230		10/04/12		5,900
	9,250,000	y	Coca-Cola Co	0.235		10/16/12		9,249
	40,000,000	y	Coca-Cola Co	0.180-0.215		10/23/12		39,995
	22,285,000	y	Coca-Cola Co	0.255		11/05/12		22,279
	7,750,000	y	Coca-Cola Co	0.240		11/07/12		7,748
	10,000,000	y	Coca-Cola Co	0.235		11/08/12		9,998
	11,000,000	y	Coca-Cola Co	0.235		11/13/12		10,997
	75,000,000	y	Coca-Cola Co	0.200		11/15/12		74,981
	16,500,000	y	Coca-Cola Co	0.220		11/19/12		16,495
	31,910,000	y	Coca-Cola Co	0.210-0.225		12/19/12		31,895
	12,475,000	y	Coca-Cola Co	0.220		12/21/12		12,469
	8,500,000	y	Coca-Cola Co	0.210		12/28/12		8,496
	40,000,000	y	Coca-Cola Co	0.210		01/15/13		39,975
	15,000,000	y	Coca-Cola Co	0.250		01/22/13		14,988
	19,250,000	y	Commonwealth Bank of Australia	0.225		11/08/12		19,245
	30,000,000	y	Commonwealth Bank of Australia	0.195		11/21/12		29,992
	20,000,000	y	Commonwealth Bank of Australia	0.195		11/26/12		19,994
	20,990,000	y	Commonwealth Bank of Australia	0.190		11/29/12		20,984
	20,945,000	y	Commonwealth Bank of Australia	0.190		11/30/12		20,938
	15,000,000	y	Commonwealth Bank of Australia	0.190		12/04/12		14,995

386

COLLEGE RETIREMENT EQUITIES FUND - Money Market Account

PRINCIPAL			ISSUER	RATE		MATURITY DATE	VALUE (000)
$	19,414,000	y	Fairway Finance LLC	0.190	%	10/11/12	$	19,413
	17,435,000	y	Fairway Finance LLC	0.190		10/19/12		17,433
	25,000,000	y	Fairway Finance LLC	0.190		10/22/12		24,997
	24,690,000	y	Fairway Finance LLC	0.190		10/29/12		24,686
	46,432,000	y	Fairway Finance LLC	0.190-0.200		10/30/12		46,425
	15,000,000	y	Fairway Finance LLC	0.190		11/02/12		14,998
	25,011,000	y	Fairway Finance LLC	0.190		11/20/12		25,004
	25,039,000	y	Fairway Finance LLC	0.330		12/03/12		25,025
	44,000,000		General Electric Capital Corp	0.140		10/09/12		43,998
	2,755,000		General Electric Capital Corp	0.230		12/10/12		2,754
	39,273,000		General Electric Capital Corp	2.800		01/08/13		39,515
	50,000,000		General Electric Capital Corp	0.160		01/25/13		49,974
	25,000,000		General Electric Capital Corp	0.160		01/29/13		24,987
	18,650,000		General Electric Co	0.080		10/11/12		18,650
	50,000,000		General Electric Co	0.080		10/16/12		49,998
	50,331,000		General Electric Co	5.000		02/01/13		51,100
	20,000,000	y	Jupiter Securitization Co LLC	0.240		12/20/12		19,989
	23,000,000	y	Liberty Street Funding LLC	0.140-0.170		10/04/12		23,000
	20,000,000	y	Liberty Street Funding LLC	0.160		10/11/12		19,999
	25,000,000	y	Liberty Street Funding LLC	0.170		10/23/12		24,997
	25,000,000	y	Liberty Street Funding LLC	0.220		10/24/12		24,996
	11,000,000	y	Liberty Street Funding LLC	0.200		11/06/12		10,998
	43,320,000	y	Liberty Street Funding LLC	0.180		11/13/12		43,311
	10,000,000	y	Liberty Street Funding LLC	0.200		12/17/12		9,996
	3,600,000	y	Nestle Capital Corp	0.160		10/15/12		3,600
	10,300,000	y	Nestle Capital Corp	0.140		11/02/12		10,299
	50,000,000	y	Nestle Capital Corp	0.100		12/03/12		49,991
	5,000,000	y	Nestle Capital Corp	0.310		05/17/13		4,990
	20,000,000	y	Old Line Funding LLC	0.190		10/09/12		19,999
	21,000,000	y	Old Line Funding LLC	0.200		10/15/12		20,998
	10,000,000	y	Old Line Funding LLC	0.200		10/18/12		9,999
	45,000,000	y	Old Line Funding LLC	0.200		10/24/12		44,994
	5,000,000	y	Old Line Funding LLC	0.200		11/27/12		4,999
	30,000,000	y	Old Line Funding LLC	0.200		12/04/12		29,989
	20,000,000	y	Old Line Funding LLC	0.200		12/06/12		19,993
	3,310,000	y	Old Line Funding LLC	0.200		12/07/12		3,309
	32,700,000	y	Old Line Funding LLC	0.230		01/23/13		32,676
	11,000,000		PACCAR Financial Corp	0.150		10/04/12		11,000
	5,045,000		PACCAR Financial Corp	0.130		10/23/12		5,044
	10,850,000		PACCAR Financial Corp	0.190		11/07/12		10,848
	22,650,000		PACCAR Financial Corp	0.190		11/14/12		22,645
	25,000,000		PACCAR Financial Corp	0.190		12/06/12		24,991
	20,000,000	y	Pfizer, Inc	0.105		10/09/12		20,000
	25,000,000	y	Pfizer, Inc	0.100		10/11/12		24,999
	15,000,000	y	Private Export Funding Corp	0.180		10/02/12		15,000
	20,000,000	y	Private Export Funding Corp	0.190		10/12/12		19,999
	25,000,000	y	Private Export Funding Corp	0.250		11/19/12		24,992
	25,000,000	y	Private Export Funding Corp	0.250		11/26/12		24,990
	17,000,000	y	Private Export Funding Corp	0.160		12/04/12		16,995
	13,940,000	y	Private Export Funding Corp	0.250		12/18/12		13,933
	88,000,000	y	Private Export Funding Corp	0.250		12/20/12		87,951
	45,000,000	y	Private Export Funding Corp	0.210		01/18/13		44,971
	10,000,000	y	Private Export Funding Corp	0.280		02/08/13		9,990

387

COLLEGE RETIREMENT EQUITIES FUND - Money Market Account

PRINCIPAL			ISSUER	RATE		MATURITY DATE	VALUE (000)
$	20,000,000	y	Private Export Funding Corp	0.280	%	03/22/13	$	19,973
	50,000,000	y	Procter & Gamble Co	0.140-0.150		10/29/12		49,994
	18,000,000	y	Procter & Gamble Co	0.145		11/02/12		17,998
	35,000,000	y	Procter & Gamble Co	0.140		11/05/12		34,995
	4,298,000	y	Procter & Gamble Co	0.150		11/06/12		4,297
	40,141,000	y	Procter & Gamble Co	0.150		11/13/12		40,134
	50,000,000	y	Procter & Gamble Co	0.140		11/16/12		49,991
	7,250,000	y	Procter & Gamble Co	0.120		11/30/12		7,249
	20,000,000	y	Procter & Gamble Co	0.150		12/10/12		19,994
	15,000,000		Province of British Columbia Canada	0.195		10/09/12		14,999
	40,000,000		Province of British Columbia Canada	0.220		10/18/12		39,996
	29,900,000		Province of British Columbia Canada	0.145		10/19/12		29,898
	35,000,000		Province of British Columbia Canada	0.110		11/20/12		34,995
	9,000,000		Province of Ontario Canada	0.140		10/04/12		9,000
	8,140,000		Province of Ontario Canada	0.120-0.140		10/09/12		8,140
	39,700,000		Province of Ontario Canada	0.140		10/11/12		39,699
	3,350,000		Province of Ontario Canada	0.135		10/12/12		3,350
	17,744,000		Province of Ontario Canada	0.150		10/16/12		17,743
	8,962,000		Province of Ontario Canada	0.155		10/22/12		8,961
	25,000,000		Province of Ontario Canada	0.140		10/30/12		24,997
	13,500,000		Province of Ontario Canada	0.155		11/06/12		13,498
	12,689,000		Province of Ontario Canada	0.180		11/26/12		12,685
	10,000,000		Province of Ontario Canada	0.160		11/29/12		9,997
	30,000,000		Province of Ontario Canada	0.165		12/05/12		29,991
	17,460,000		Province of Quebec Canada	0.180		10/01/12		17,460
	25,000,000		Province of Quebec Canada	0.180		10/04/12		24,999
	9,900,000		Province of Quebec Canada	0.170		10/09/12		9,900
	21,720,000		Province of Quebec Canada	0.165-0.175		10/10/12		21,719
	144,000,000		Province of Quebec Canada	0.180		11/19/12		143,965
	44,300,000		Province of Quebec Canada	0.180		11/20/12		44,289
	20,000,000		Royal Bank of Canada	0.090		10/29/12		19,999
	30,000,000		Standard Chartered Bank	0.340		10/05/12		29,999
	12,001,000		Straight-A Funding LLC	0.180		10/02/12		12,001
	20,000,000		Straight-A Funding LLC	0.180		10/03/12		20,000
	17,512,000		Straight-A Funding LLC	0.180		10/10/12		17,511
	25,084,000		Straight-A Funding LLC	0.180		10/11/12		25,083
	29,630,000		Straight-A Funding LLC	0.180		10/12/12		29,628
	14,543,000		Straight-A Funding LLC	0.180		11/01/12		14,541
	20,000,000		Straight-A Funding LLC	0.180		11/02/12		19,997
	18,000,000		Straight-A Funding LLC	0.180		11/08/12		17,997
	45,780,000		Straight-A Funding LLC	0.180		11/09/12		45,771
	50,000,000		Straight-A Funding LLC	0.180		11/28/12		49,985
	50,000,000		Straight-A Funding LLC	0.180		12/04/12		49,984
	33,650,000		Straight-A Funding LLC	0.180		12/18/12		33,637
	20,000,000		Straight-A Funding LLC	0.180		12/20/12		19,992
	12,333,000		Thunder Bay Funding LLC	0.180		11/26/12		12,330
	30,000,000	y	Toronto-Dominion Holdings USA, Inc	0.150		10/05/12		29,999
	2,250,000	y	Unilever Capital Corp	0.190		10/04/12		2,250
	75,000,000		US Bank NA	0.210		11/16/12		74,980
	30,000,000	y	Variable Funding Capital Co LLC	0.160		10/01/12		30,000
	26,640,000	y	Variable Funding Capital Co LLC	0.160		10/1012		26,639
	52,610,000	y	Variable Funding Capital Co LLC	0.160-0.200		10/15/12		52,606
	10,809,000	y	Variable Funding Capital Co LLC	0.160		10/22/12		10,808

388

COLLEGE RETIREMENT EQUITIES FUND - Money Market Account

PRINCIPAL			ISSUER	RATE		MATURITY DATE	VALUE (000)
$	30,000,000	y	Variable Funding Capital Co LLC	0.160	%	11/06/12	$	29,995
	50,000,000	y	Wal-Mart Stores, Inc	0.130		10/01/12		50,000
	50,000,000	y	Wal-Mart Stores, Inc	0.130		10/02/12		50,000
	10,800,000	y	Wal-Mart Stores, Inc	0.100		10/03/12		10,800
	20,000,000	y	Wal-Mart Stores, Inc	0.130		10/04/12		20,000
	40,000,000	y	Wal-Mart Stores, Inc	0.120		10/05/12		39,999
	2,450,000	y	Wal-Mart Stores, Inc	0.120		10/09/12		2,450
	10,576,000	y	Wal-Mart Stores, Inc	0.110		10/16/12		10,575
	37,140,000	y	Wal-Mart Stores, Inc	0.100		10/22/12		37,138
	25,000,000	y	Westpac Banking Corp	0.325		02/08/13		24,971
			TOTAL COMMERCIAL PAPER					3,667,164
GOVERNMENT AGENCY DEBT - 21.9%
	10,000,000		Federal Home Loan Bank (FHLB)	0.100		10/02/12		10,000
	20,126,000		FHLB	0.110		10/04/12		20,126
	48,890,000		FHLB	0.105-0.130		10/10/12		48,889
	54,834,000		FHLB	0.125-0.135		10/12/12		54,832
	58,239,000		FHLB	0.110-0.130		10/17/12		58,236
	115,093,000		FHLB	0.110-0.120		10/19/12		115,086
	106,340,000		FHLB	0.050-0.130		10/26/12		106,333
	176,197,000		FHLB	0.120-0.135		11/14/12		176,170
	80,000,000		FHLB	0.126-0.130		11/21/12		79,985
	70,034,000		FHLB	0.125-0.140		11/28/12		70,019
	135,000,000		FHLB	0.130-0.132		12/05/12		134,968
	60,000,000		FHLB	0.138-0.140		12/07/12		59,984
	36,184,000		FHLB	0.130-0.135		12/14/12		36,174
	18,000,000		FHLB	0.130		12/26/12		17,994
	20,000,000		FHLB	0.165-0.175		01/09/13		19,991
	17,065,000		FHLB	0.140		02/20/13		17,056
	16,000,000		Federal Home Loan Mortgage Corp (FHLMC)	0.145-0.160		10/03/12		16,000
	25,000,000		FHLMC	0.075		10/09/12		25,000
	39,300,000		FHLMC	0.115-0.140		10/22/12		39,297
	92,355,000		FHLMC	0.120-0.125		11/05/12		92,344
	8,047,000		FHLMC	0.160		11/09/12		8,046
	73,390,000		FHLMC	0.125-0.135		11/13/12		73,378
	50,000,000		FHLMC	0.125-0.130		11/26/12		49,990
	20,000,000		FHLMC	0.140		11/27/12		19,996
	39,317,000		FHLMC	0.130		11/28/12		39,309
	50,000,000		FHLMC	0.120		11/29/12		49,990
	21,701,000		FHLMC	0.130		12/03/12		21,696
	45,100,000		FHLMC	0.137-0.180		12/10/12		45,088
	35,000,000		FHLMC	0.120-0.125		12/11/12		34,992
	116,100,000		FHLMC	0.125-0.180		12/17/12		116,065
	26,430,000		FHLMC	0.130		12/18/12		26,422
	50,000,000		FHLMC	0.140-0.180		12/24/12		49,982
	25,000,000		FHLMC	0.160		12/26/12		24,990
	25,690,000		FHLMC	0.140-0.168		12/27/12		25,680
	43,500,000		FHLMC	0.130-0.145		01/03/13		43,485
	34,645,000		FHLMC	0.160-0.175		01/07/13		34,630
	6,390,000		FHLMC	0.160		01/09/13		6,387
	31,420,000		FHLMC	0.168-0.195		01/14/13		31,403
	52,055,000		FHLMC	0.125-0.190		01/22/13		52,027
	8,406,000		FHLMC	0.160		01/30/13		8,401

389

COLLEGE RETIREMENT EQUITIES FUND - Money Market Account

PRINCIPAL			ISSUER	RATE		MATURITY DATE	VALUE (000)
$	1,875,000		FHLMC	0.175	%	02/04/13	$	1,874
	4,500,000		FHLMC	0.145		02/11/13		4,498
	42,136,000		FHLMC	0.140-0.145		02/19/13		42,112
	25,000,000		FHLMC	0.155		02/25/13		24,984
	11,000,000		FHLMC	0.145		02/26/13		10,993
	39,000,000		FHLMC	0.145		02/27/13		38,977
	17,000,000	i	FHLMC	0.201		11/04/13		17,001
	80,000,000		Federal National Mortgage Association (FNMA)	0.135		10/03/12		79,999
	35,000,000		FNMA	0.140-0.142		10/15/12		34,998
	79,099,000		FNMA	0.120-0.155		10/17/12		79,095
	85,060,000		FNMA	0.120-0.135		11/07/12		85,049
	80,130,000		FNMA	0.130-0.170		12/12/12		80,107
	44,598,000		FNMA	0.130-0.175		12/19/12		44,584
	6,800,000		FNMA	0.140		12/26/12		6,798
	22,935,000		FNMA	0.155-0.170		01/02/13		22,925
	10,999,000		FNMA	0.165-0.180		01/03/13		10,994
	25,000,000		FNMA	0.160		01/04/13		24,990
	14,325,000		FNMA	0.160-0.175		01/07/13		14,319
	17,415,000		FNMA	0.140-0.145		02/20/13		17,405
			TOTAL GOVERNMENT AGENCY DEBT					2,602,143
REPURCHASE AGREEMENT - 1.7%
	200,000,000		Credit Suisse First Boston	0.180		10/01/12		200,000
			TOTAL REPURCHASE AGREEMENT					200,000
TREASURY DEBT - 19.2%
	62,835,000		United States Treasury Bill	0.109-0.113		10/04/12		62,834
	50,000,000		United States Treasury Bill	0.104-0.130		10/11/12		49,998
	112,700,000		United States Treasury Bill	0.074-0.143		10/18/12		112,695
	51,700,000		United States Treasury Bill	0.050-0.135		10/25/12		51,697
	50,000,000		United States Treasury Bill	0.130-0.133		11/01/12		49,994
	45,000,000		United States Treasury Bill	0.103-0.135		11/08/12		44,994
	10,000,000		United States Treasury Bill	0.141		11/15/12		9,998
	22,120,000		United States Treasury Bill	0.104		11/23/12		22,117
	75,255,000		United States Treasury Bill	0.078-0.108		12/06/12		75,242
	69,495,000		United States Treasury Bill	0.100-0.122		12/13/12		69,479
	20,000,000		United States Treasury Bill	0.145		12/20/12		19,994
	25,000,000		United States Treasury Bill	0.112		12/27/12		24,993
	4,730,000		United States Treasury Bill	0.140		01/03/13		4,728
	55,395,000		United States Treasury Bill	0.115-0.132		01/10/13		55,377
	23,060,000		United States Treasury Bill	0.100-0.120		01/17/13		23,053
	60,000,000		United States Treasury Bill	0.108-0.112		01/24/13		59,979
	51,295,000		United States Treasury Bill	0.121-0.152		02/07/13		51,270
	52,630,000		United States Treasury Bill	0.118-0.126		02/14/13		52,606
	109,585,000		United States Treasury Note	1.375		10/15/12		109,636
	145,872,000		United States Treasury Note	0.375		10/31/12		145,899
	79,790,000		United States Treasury Note	1.375		11/15/12		79,909
	129,297,000		United States Treasury Note	0.500		11/30/12		129,369
	82,910,000		United States Treasury Note	1.125		12/15/12		83,073
	40,000,000		United States Treasury Note	0.625		12/31/12		40,045
	100,370,000		United States Treasury Note	1.375		01/15/13		100,721
	100,000,000		United States Treasury Note	0.625		01/31/13		100,148
	100,000,000		United States Treasury Note	1.375		02/15/13		100,452

390

COLLEGE RETIREMENT EQUITIES FUND - Money Market Account

PRINCIPAL			ISSUER	RATE		MATURITY DATE	VALUE (000)
$	100,000,000		United States Treasury Note	0.625	%	02/28/13	$	100,180
	90,000,000		United States Treasury Note	1.375		03/15/13		90,488
	46,445,000		United States Treasury Note	0.750		03/31/13		46,577
	50,000,000		United States Treasury Note	1.750		04/15/13		50,425
	100,000,000		United States Treasury Note	0.625		04/30/13		100,252
	52,420,000		United States Treasury Note	1.375		05/15/13		52,804
	75,065,000		United States Treasury Note	0.500		05/31/13		75,220
	20,545,000		United States Treasury Note	1.000		07/15/13		20,673
	4,930,000		United States Treasury Note	0.375		07/31/13		4,938
	8,355,000		United States Treasury Note	0.750		08/15/13		8,395
			TOTAL TREASURY DEBT					2,280,252
VARIABLE RATE SECURITIES - 22.4%
	5,000,000	i	Federal Farm Credit Bank (FFCB)	0.145		01/08/13		4,998
	100,000,000	i	FFCB	0.202		01/28/13		99,966
	50,000,000	i	FFCB	0.240		02/01/13		49,996
	31,700,000	i	FFCB	0.292		03/15/13		31,696
	44,800,000	i	FFCB	0.331		03/28/13		44,800
	25,050,000	i	FFCB	0.238		06/12/13		25,052
	32,435,000	i	FFCB	0.277		06/26/13		32,450
	69,750,000	i	FFCB	0.578		08/19/13		69,719
	45,000,000	i	FFCB	0.312		08/26/13		44,980
	36,290,000	i	FFCB	0.340		08/26/13		36,287
	50,000,000	i	FFCB	0.250		09/23/13		49,990
	100,000,000	i	FFCB	0.360		09/23/13		99,996
	10,000,000	i	FFCB	0.280		10/15/13		9,991
	50,000,000	i	FFCB	0.380		11/01/13		50,000
	91,000,000	i	FFCB	0.250		02/10/14		90,975
	50,000,000	i	FFCB	0.210		03/13/14		49,991
	50,000,000	i	FFCB	0.191		04/16/14		50,000
	73,820,000	i	Federal Home Loan Bank (FHLB)	0.130-0.134		10/03/12		73,819
	18,380,000	i	FHLB	0.105		10/05/12		18,380
	4,800,000	i	FHLB	0.125		10/09/12		4,800
	6,100,000	i	FHLB	0.145		10/16/12		6,100
	46,575,000	i	FHLB	0.115-0.130		10/24/12		46,572
	50,000,000	i	FHLB	0.125		10/31/12		49,995
	82,725,000	i	FHLB	0.125-0.160		11/02/12		82,716
	74,700,000	i	FHLB	0.127-0.135		11/07/12		74,690
	64,300,000	i	FHLB	0.095-0.135		11/09/12		64,292
	8,040,000	i	FHLB	0.160		11/13/12		8,038
	120,750,000	i	FHLB	0.122-0.130		11/16/12		120,730
	15,135,000	i	FHLB	0.125		11/30/12		15,132
	2,000,000	i	FHLB	0.145		12/03/12		2,000
	49,600,000	i	FHLB	0.135		12/19/12		49,585
	50,000,000	i	FHLB	0.131-0.133		12/21/12		49,985
	9,400,000	i	FHLB	0.170		01/04/13		9,396
	100,000,000	i	FHLB	0.320		02/22/13		100,000
	10,000,000	i	FHLB	0.332		03/06/13		10,000
	55,000,000	i	FHLB	0.320		03/08/13		54,999
	50,000,000	i	FHLB	0.151		03/15/13		49,965
	100,000,000	i	FHLB	0.330		08/16/13		100,000
	144,500,000	i	Federal Home Loan Mortgage Corp (FHLMC)	0.181		02/04/13		144,481
	22,070,000	i	FHLMC	0.178		05/06/13		22,063

391

COLLEGE RETIREMENT EQUITIES FUND - Money Market Account

PRINCIPAL			ISSUER	RATE		MATURITY DATE	VALUE (000)
$	27,000,000	i	FHLMC	0.181	%	06/03/13	$	27,002
	20,195,000	i	Federal National Mortgage Association (FNMA)	0.115-0.135		10/10/12		20,194
	20,000,000	i	FNMA	0.125		10/16/12		19,999
	26,500,000	i	FNMA	0.125		11/01/12		26,497
	15,650,000	i	FNMA	0.125-0.150		11/14/12		15,647
	1,665,000	i	FNMA	0.155		11/28/12		1,665
	1,511,000	i	FNMA	0.170		11/29/12		1,511
	27,198,000	i	FNMA	0.375		12/28/12		27,212
	19,114,000	i	FNMA	0.125-0.155		01/09/13		19,106
	28,044,000	i	FNMA	0.130-0.150		01/16/13		28,032
	6,130,000	i	FNMA	0.155		01/30/13		6,127
	6,400,000	i	FNMA	0.145		02/13/13		6,396
	5,500,000	i	FNMA	0.160		02/14/13		5,497
	34,600,000	i	FNMA	0.145		02/27/13		34,579
	44,700,000	i	FNMA	0.272		03/14/13		44,694
	80,290,000	i	FNMA	0.380		10/28/13		80,290
	80,000,000	i	FNMA	0.199		06/20/14		79,977
	23,000,000	i	Bank of Nova Scotia	0.648		10/26/12		23,005
	50,000,000	i	Canadian Imperial Bank of Commerce	0.300		10/09/12		50,000
	10,000,000	i	Province of Ontario Canada	0.584		11/19/12		10,004
	10,000,000	i	Province of Ontario Canada	1.875		11/19/12		10,022
	50,000,000	i	Royal Bank of Canada	0.540		06/07/13		50,000
	69,000,000	i	Royal Bank of Canada	0.440		07/15/13		69,000
	50,000,000	i	Toronto Dominion Bank	0.306		05/28/13		50,000
	10,000,000	i	Toronto-Dominion Bank	0.306		05/30/13		10,000
			TOTAL VARIABLE RATE SECURITIES					2,715,081
			TOTAL SHORT-TERM INVESTMENTS					11,851,345
			(Cost $11,851,345)
			TOTAL INVESTMENTS - 99.6%					11,851,345
			(Cost $11,851,345)
			OTHER ASSETS & LIABILITIES, NET - 0.4%					52,701
			NET ASSETS - 100.0%				$	11,904,046

i	Floating or variable rate security. Coupon rate reflects the rate at period end.
y	Security exempt from registration under Section 4(2) of the Securities Act of 1933. Such securities are deemed liquid and may be sold in transactions exempt from registration only to dealers in that program or other “accredited investors.” At 09/30/2012, the aggregate value of these securities was $2,056,323,000 or 17.3% of net assets.
	Cost amounts are in thousands.

392

COLLEGE RETIREMENT EQUITIES FUND – Notes to Schedules of investments (unaudited)

Note 1—organization and significant accounting policies

The purpose of the College Retirement Equities Fund (“CREF”), as stated in its charter, is to aid and strengthen non-profit educational and research organizations, governmental entities, and other non-profit institutions by providing their employees with variable retirement benefits. CREF is registered with the Securities and Exchange Commission (“Commission”) under the Investment Company Act of 1940, as amended (“1940 Act”), as an open-end management investment company. It consists of eight investment portfolios: the Stock, Global Equities, Growth, Equity Index, Bond Market, Inflation-Linked Bond, Social Choice and Money Market Accounts (individually referred to as the “Account” or collectively referred to as the “Accounts”).

The accompanying schedules of investments were prepared in accordance with accounting principles generally accepted in the United States of America (“U.S. GAAP”) which may require the use of estimates made by management. Actual results may differ from those estimates. The following is a summary of the significant accounting policies consistently followed by the Accounts.

Security valuation: For all Accounts (other than the Money Market Account), investments in securities are recorded at their estimated fair value as described in the valuation of investments note to the schedules of investments. Investments held by the Money Market Account are recorded at amortized cost, which approximates fair value. The amortized cost of an instrument is determined by valuing it at its original cost and thereafter accreting or amortizing any discount or premium to its face value at a constant rate until maturity.

Investment transactions: Securities transactions are accounted for as of the trade date for financial reporting purposes.

Foreign currency transactions and translation: Assets, including investments, and liabilities denominated in foreign currencies are translated into U.S. dollar values each day using exchange rates obtained from an independent third party. Purchases and sales of securities, income, and expenses are translated into U.S. dollars at the prevailing exchange rate on the date of the transaction. The effect of changes in foreign currency exchange rates on realized and unrealized security gains and losses is reflected as a component of security gains and losses.

Transactions with affiliates: The Accounts may purchase or sell investment securities in transactions with affiliated entities under procedures adopted by the Board of Trustees (“Board”), pursuant to the 1940 Act. These transactions are effected at market rates without incurring broker commissions.

Note 2—valuation of investments

Portfolio investments are valued at fair value utilizing various valuation methods approved by the Board. U.S. GAAP establishes a hierarchy that prioritizes market inputs to valuation methods. The three levels of inputs are:

• Level 1 – quoted prices in active markets for identical securities

• Level 2 – other significant observable inputs (including quoted prices for similar securities, interest rates, credit spreads, etc.)

• Level 3 – significant unobservable inputs (including the Accounts’ own assumptions in determining the fair value of investments)

The availability of observable inputs can vary from security to security and is affected by a wide variety of factors, including, for example, the type of security, whether the security is new and not yet established in the marketplace, the liquidity of markets, and other characteristics particular to the security. To the extent that valuation is based on models or inputs that are less observable or unobservable in the market, the determination of fair value requires more judgment. Accordingly, the degree of judgment exercised in determining fair value is greatest for instruments categorized in Level 3. The inputs or methodology used for valuing securities are not necessarily an indication of the risk associated with investing in those securities.

A description of the valuation techniques applied to the Accounts’ major categories of assets and liabilities measured at fair value follows:

Exchange-traded equity securities, common and preferred stock: Equity securities listed or traded on a national market or exchange are valued based on their sale price on such market or exchange at the close of business on the date of valuation, or at the mean of the closing bid and asked prices if no sale is reported. To the extent these securities are actively traded and valuation adjustments are not applied, they are categorized in Level 1 of the fair value hierarchy. Foreign investments are valued at the last sale price or official closing price reported on the exchange where traded and converted to U.S. dollars at the prevailing rates of exchange on the date of valuation. For events affecting the value of foreign securities between the time when the exchange on which they are traded closes and the time when the Accounts’ net assets are calculated, such securities will be valued at fair value in accordance with procedures adopted by the Board. Foreign securities are generally categorized in Level 2 of the fair value hierarchy.

Debt securities: Debt securities will generally be valued using prices provided by a pricing service that may employ various indications of value including but not limited to broker-dealer quotations. Certain debt securities, other than money market instruments, are valued based on the most recent bid price or the equivalent quoted yield for such securities (or those of comparable maturity, quality and type). Debt securities are generally categorized in Level 2 of the fair value hierarchy; in instances where prices, yields or any other key inputs are unobservable, they are categorized in Level 3 of the hierarchy.

Short-term investments: Short-term investments, excluding investments in registered investement companies, with maturities of 60 days or less are valued at amortized cost. Short-term investments (other than those in the Money Market Account) with maturities in excess of 60 days are valued in the same manner as debt securities. Short-term investments in the Money Market Account are valued at amortized cost. Short-term investments are generally categorized in Level 2 of the fair value hierarchy.

Investments in registered investment companies: These investments are valued at their net asset value on the valuation date. These investments are categorized in Level 1 of the fair value hierarchy.

Futures contracts: Stock and bond index futures and options, which are traded on commodities exchanges, are valued at the last sale price as of the close of such commodities exchanges and are categorized in Level 1 of the fair value hierarchy.

393

COLLEGE RETIREMENT EQUITIES FUND – Notes to Schedules of investments (unaudited)

Credit default swap contracts: Credit default swap contracts are marked-to-market daily based upon a price supplied by a pricing service. Credit default swaps are generally categorized as Level 2 in the fair value hierarchy.

Any portfolio security for which market quotations are not readily available or for which the above valuation procedures are deemed not to reflect fair value are valued at fair value, as determined in good faith using procedures approved by the Board. To the extent the inputs are observable and timely, the values would be categorized in Level 2 of the fair value hierarchy; otherwise they would be categorized as Level 3.

Transfers between levels are recognized at the end of the reporting period. For the period ended September 30, 2012, there were no material transfers between levels by the Accounts.

As of September 30, 2012, 100% of the value of investments in the Equity Index Account was valued based on Level 1 inputs.

As of September 30, 2012, 100% of the value of investments in the Inflation-Linked Bond and Money Market Accounts were valued based on Level 2 inputs.

The following is a summary of the inputs used to value the remaining Accounts’ investments as of September 30, 2012 (amounts are in thousands):

Account	Level 1		Level 2			Level 3		Total
Stock
Consumer discretionary*	$	9,684,306	$	3,600,291		$	377	$	13,284,974
Consumer staples*		6,425,701		3,077,070			442		9,503,213
Energy*		7,632,239		3,008,011			4		10,640,254
Financials*		11,619,414		7,339,362			1,341		18,960,117
Health care*		9,072,658		2,266,429			4,723		11,343,810
Industrials*		7,716,492		3,734,569			18		11,451,079
Information technology*		14,231,690		2,265,037			82		16,496,809
Materials*		3,050,538		3,618,213			323		6,669,074
Telecommunication services*		2,084,182		1,388,472			-		3,472,654
Utilities*		2,452,389		1,038,930			-		3,491,319
Corporate bonds		-		3,739			-		3,739
Government bonds		-		304					304
Short-term investments		-		6,003,595			-		6,003,595
Total	$	73,969,609	$	37,344,022		$	7,310	$	111,320,941
Global Equities
Australia	$	-	$	384,649		$	-	$	384,649
Canada		11,305		573,233			-		584,538
France		-		485,392			-		485,392
Germany		-		524,253			-		524,253
Japan		-		1,049,543			-		1,049,543
Switzerland		3,906		398,989			-		402,895
United Kingdom*		31,229		1,259,507			-		1,290,736
United States		8,097,205		6,677			-		8,103,882
Other*		64,657		1,781,815			-		1,846,472
Short-term investments		-		908,142			-		908,142
Futures**		30		-			-		30
Total	$	8,208,332	$	7,372,200		$	-	$	15,580,532
Growth
Consumer discretionary	$	2,772,743	$	25,288		$	-	$	2,798,031
Consumer staples		1,487,791		14,900			-		1,502,691
Energy		596,778		10,974			-		607,752
Financials		801,946		-			-		801,946
Health care*		1,926,011		21,672			-		1,947,683
Industrials		1,737,712		-			-		1,737,712
Information technology		4,954,312		26,807			-		4,981,119
Materials		605,535		-			-		605,535
Telecommunication services		224,246		-			-		224,246
Utilities		11,569		-			-		11,569
Short-term investments		148,960		137,991			-		286,951
Futures**		74		-			-		74
Total	$	15,267,677	$	237,632		$	-	$	15,505,309
Bond Market
Bank loan obligations	$	-	$	12,006		$	-	$	12,006
Corporate bonds		-		4,791,842			-		4,791,842
Government bonds		-		8,626,206			-		8,626,206
Structured assets		-		655,900			-		655,900
Preferred stocks		1,729		-			-		1,729
Short-term investments		-		3,125,551			-		3,125,551
Swaps**		-		(237	)		-		(237	)
Total	$	1,729	$	17,211,268		$	-	$	17,212,997

394

COLLEGE RETIREMENT EQUITIES FUND – Notes to Schedules of investments (unaudited)

Account	Level 1		Level 2		Level 3		Total
Social Choice
Consumer discretionary	$	618,166	$	154,499	$	-	$	772,665
Consumer staples		468,012		150,722		-		618,734
Energy		469,376		154,395		-		623,771
Financials		1,034,008		334,290		-		1,368,298
Health care		595,624		126,397		-		722,021
Industrials		573,911		197,990		-		771,901
Information technology		908,853		51,443		-		960,296
Materials		264,948		182,364		-		447,312
Telecommunication services		90,335		72,775		-		163,110
Utilities		235,857		67,188		-		303,045
Corporate bonds		-		1,414,506		-		1,414,506
Government bonds		-		2,604,029		-		2,604,029
Structured assets		-		170,346		-		170,346
Short-term investments		-		1,488,702		-		1,488,702
Total	$	5,259,090	$	7,169,646	$	-	$	12,428,736

* Includes American Depositary Receipts at Level 1.
** Derivatives instruments are not reflected in the schedule of investments.

Note 3—derivative instruments

As defined by U.S. GAAP, a derivative is a financial instrument whose value is derived from an underlying security price, foreign exchange rate, interest rate, index of prices or rates, or other variable. Derivatives require little or no initial investment and permit or require net settlement. The Accounts value derivatives at fair value.

Futures contracts: Certain Accounts are subject to equity price risk in the normal course of pursuing their investment objectives. The Accounts use futures contracts to manage exposure to the equity markets and for cash management purposes to remain highly invested in these markets while minimizing transaction costs. Buying futures contracts tends to increase exposure to the underlying instrument/index, while selling futures contracts tends to decrease exposure to the underlying instrument/index or hedge other investments. Initial margin deposits are made upon entering into a futures contract, and variation margin payments are made or received reflecting daily changes in the value of the futures contracts. Daily changes in the value of such contracts are reflected in net unrealized gains and losses. Gains or losses are realized upon the expiration or closing of the futures contracts or if the counterparties do not perform in accordance with contractual provisions. With futures, there is minimal counterparty credit risk to the Accounts since futures are exchange-traded and the exchange’s clearinghouse, as counterparty to all exchange-traded funds, guarantees the futures against default.

At September 30, 2012, the Accounts held the following open futures contracts (amounts are in thousands):

Account	Futures	Number of contracts ‡		Market value		Expiration date	Unrealized gain (loss)
Global Equities	CME E-mini S&P 500 Index		396	$	28,397	December 2012	$	30
Growth	CME E-mini S&P 500 Index		974		69,846	December 2012		74

‡ Number of contracts are not in thousands.

395

COLLEGE RETIREMENT EQUITIES FUND – Notes to Schedules of investments (unaudited)

Credit default swap contracts: Certain Accounts are subject to credit risk in the normal course of pursuing their investment objectives. A credit default swap is a contract between a buyer and a seller of protection against pre-defined credit events for the reference entity. As a seller in a credit default swap contract, the Account is required to pay an agreed upon amount to the counterparty with the occurrence of a specified credit event, such as certain bankruptcies related to an underlying credit instrument, index, or issuer which would likely result in a loss to the Account. The agreed upon amount approximates the notional value of the swap and is estimated to be the maximum potential future payment that the Account could be required to make under the contract. In return, the Account receives from the counterparty a periodic stream of payments over the term of the contract provided that no credit event has occurred. If no credit event occurs, the Account keeps the stream of payments with no payment obligations. When the Account sells a credit default swap contract it will cover its commitment. This may be achieved by, among other methods, maintaining cash or liquid assets in a segregated account equal to the aggregate notional value of the reference entities for all outstanding credit default swap contracts sold by the Account.

The Account may also buy credit default swap contracts, in which case the Account functions as the counterparty referenced above. This involves the risk that the contract may expire worthless. It also involves counterparty risk that the seller may fail to satisfy its payment obligations to the Account with the occurrence of a credit event.

Credit default swaps are valued daily, and any change in the value of the swaps is reflected separately as a change in unrealized appreciation (depreciation). Under the terms of the credit default swap contracts, the Account receives or makes quarterly payments based on a payment rate on a fixed notional amount. These payments are recorded as a realized gain or loss. Payments received or made as a result of a credit event or termination of the contract are recognized as realized gains or losses.

The Accounts invest in credit default swaps to hedge or manage the risks associated with assets held in the Account and/or to facilitate the implementation of portfolio strategies.

At September 30, 2012, open credit default swap contracts sold by the Accounts were as follows:

Account	Reference entity	Counterparty	Maturity date	Fixed payments received by fund per annum			Implied credit spread at September 30, 2012 (1)			Notional amount (2)		Upfront premium paid (received)			Unrealized appreciation (depreciation)
CREF Bond	Federative Republic of Brazil	UBS AG.	September 20, 2022		1.00	%		1.49	%	$	5,500	$	(327	)	$	90

(1) Implied credit spreads, represented in absolute terms, utilized in determining the market value of credit default swap agreements on corporate issues, U.S. municipal issues or sovereign issues of an emerging country as of period end, serve as an indicator of the current status of the payment/performance risk and represent the likelihood or risk of default for the credit derivative. The implied credit spread of a particular referenced entity reflects the cost of buying/selling protection and may include upfront payments required to be made to enter into the agreement. Wider credit spreads represent a deterioration of the referenced entity’s credit soundness and a greater likelihood or risk of default or other credit event occurring as defined under the terms of the agreement.

(2) The maximum potential amount the Account could be required to pay as a seller of credit protection or receive as a buyer of credit protection if a credit event occurs as defined under the terms of that particular swap agreement.

Note 4—affiliated investments

Companies in which an Account holds 5% or more of the outstanding voting shares are considered “affiliated companies” of the Account pursuant to the 1940 Act. Additionally, investments in other investment companies advised by TIAA-CREF Investment Management, LLC, or its affiliates, are deemed to be affiliated companies. Information regarding transactions with affiliated companies is as follows (amounts are in thousands):

Issue	Value at December 31, 2011		Purchase cost		Sales proceeds		Realized gain (loss)			Dividend income		Withholding expense		Shares at September 30, 2012		†	Value at September 30, 2012
Stock Account
Japan Asia Investment Co Ltd	$	5,945	$	-	$	-	$	-		$	-	$	-		8,823,000		$	5,319
Jarden Corp		189,311		11,652		161,079		49,884			546		-		*			-
MPM Bioventures II		3,535		-		-		-			-		-		22,167,242			3,796
Skyline Venture Fund II Ltd		244		-		-		-			-		-		4,254,176			246
Stroer Out of Home Media AG.		53,978		250		35,302		(24,024	)		-		-		*			-
Vanda Pharmaceuticals, Inc		6,855		-		4,328		(7,788	)		-		-		*			-
	$	259,868	$	15,083	$	200,805	$	18,072		$	546	$	-				$	9,361
Growth Account
TIAA-CREF Short Term Lending Portfolio of the State Street Navigator Securities	$	194,557	$	240,978	$	286,575	$	-		$	2,460	$	-		148,959,956		$	148,960
Equity Index Account
TIAA-CREF Short Term Lending Portfolio of the State Street Navigator Securities	$	256,854	$	143,201	$	81,249	$	-		$	4,516	$	-		318,805,648		$	318,806

* Not an affiliate investment as of September 30, 2012.

^† Shares are not in thousands

396

COLLEGE RETIREMENT EQUITIES FUND – Notes to Schedules of investments (unaudited)

Note 5—investments

Securities lending: Certain Accounts may lend their securities to qualified institutional borrowers to earn additional income. An Account receives collateral (in the form of cash, Treasury securities, or other collateral permitted by applicable law) against the loaned securities and maintains collateral in an amount not less than 100% of the market value of loaned securities during the period of the loan. Cash collateral received by an Account will generally be invested in high-quality short-term instruments or in one or more Accounts maintained by the securities lending agent for the purpose of investing cash collateral. In lending its securities, the Account bears the market risk with respect to the collateral investment as well as the securities loaned and also bears the risk that the counterparty may default on its obligations to the Account.

Repurchase agreements: Each Account may enter into repurchase agreements with banks or broker-dealers. Repurchase agreements involve the purchase of securities from an institution, subject to the seller’s agreement to repurchase and the Account’s agreement to resell such securities at a mutually agreed-upon price. Pursuant to the terms of the repurchase agreement, securities purchased subject to repurchase agreements must have an aggregate market value greater than or equal to the agreed-upon repurchase price plus accrued interest at all times. If the value of the underlying securities falls below the value of the repurchase price plus accrued interest, the Account will require the seller to deposit additional collateral by the next business day. If a request for additional collateral is not met, or if the seller defaults on its repurchase obligation, the Account maintains the right to sell the underlying securities at market value and pursue a claim for any remaining loss against the seller.

Securities purchased on a when-issued or delayed-delivery basis: The Accounts may purchase securities on a when-issued or delayed-delivery basis. Securities purchased or sold on a when-issued or delayed-delivery basis may be settled a month or more after trade date; interest income is not accrued until settlement date. At the time an Account enters into such transactions, it is required to have segregated assets with a current value at least equal to the amount of its when-issued or delayed-delivery purchase commitments.

Treasury Inflation-Protected Securities: The Accounts (other than the Money Market Account) may invest in Treasury Inflation-Protected Securities, specially structured bonds in which the principal amount is adjusted periodically to keep pace with inflation, as measured by the U.S. Consumer Price Index.

Dollar rolls transactions: Some of the Accounts may enter into mortgage dollar rolls in which an Account sells mortgage securities for delivery in the current month, realizing a gain (loss), and simultaneously contracts to repurchase similar securities on a specified future date. During the roll period, an Account forgoes principal and interest paid on the securities. The Account is compensated by the interest earned on the cash proceeds of the initial sale and by the lower repurchase price at the future date. The difference between the sales proceeds and the lower repurchase price is recorded as a realized gain. The Account maintains a segregated account, the dollar value of which is at least equal to its obligations with respect to dollar rolls.

Restricted securities: Restricted securities held by the Accounts, if any, may not be sold except in exempt transactions or in a public offering registered under the Securities Act of 1933. The risk of investing in such securities is generally greater than the risk of investing in securities that are widely held and publicly traded.

Equity-linked notes: Equity-linked notes are debt securities issued by banks or broker-dealers and are designed to offer a return linked to an underlying security or market index. Equity-linked notes are structured with a defined maturity date. When the note matures, the issuer will pay to, or receive from the Account, the difference between the nominal value of the underlying instrument at the time of purchase and that instrument’s value at maturity. The Account will record a realized gain or loss on the transaction. The note is valued daily and any change in the value of the note is reflected in net unrealized gains and losses. Investments in equity-linked notes involve the same risks associated with a direct investment in the underlying security or index that the note seeks to replicate. In addition, there is also counterparty risk associated with these investments because the Account is relying on the creditworthiness of such counterparty and has no rights under an equity-linked note against the issuer of the underlying security.

Net unrealized appreciation (depreciation): At September 30, 2012, net unrealized appreciation (depreciation) based on the aggregate cost of portfolio investments, consisting of gross unrealized appreciation and gross unrealized depreciation, was as follows (amounts are in thousands):

397

COLLEGE RETIREMENT EQUITIES FUND – Notes to Schedules of investments (unaudited)

Account	Gross unrealized appreciation		Gross unrealized (depreciation)			Net unrealized appreciation (depreciation)
Stock	$	15,243,360	$	(3,787,011	)	$	11,456,349
Global Equities		1,785,057		(403,778	)		1,381,279
Growth		3,047,573		(204,652	)		2,842,921
Equity Index		4,361,395		(1,127,504	)		3,233,891
Bond Market		751,845		(66,374	)		685,471
Inflation-Linked Bond		1,620,191		-			1,620,191
Social Choice		1,715,765		(377,309	)		1,338,456

398

Item 2. Controls and Procedures.

          (a) An evaluation was performed within 90 days of the filing date of the report under the supervision of the Registrant’s management, including the principal executive officer and principal financial officer, of the effectiveness of the design and operation of the Registrant’s disclosure controls and procedures. Based on that evaluation, the Registrant’s management, including the principal executive officer and principal financial officer, concluded that the Registrant’s disclosure controls and procedures were effective for this quarterly reporting period.

          (b) There were no changes in the Registrant’s internal control over financial reporting that occurred during the Registrant’s last fiscal quarter that have materially affected, or are reasonably likely to materially affect, the Registrant’s internal control over financial reporting.

Item 3. Exhibits.

3(a) Section 302 certification of the principal executive officer

3(b) Section 302 certification of the principal financial officer

SIGNATURES

          Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, the Registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

	COLLEGE RETIREMENT EQUITIES FUND
Date: November 20, 2012	By:	/s/ Roger W. Ferguson, Jr.
		Roger W. Ferguson, Jr.
		President and Chief Executive Officer

          Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, this report has been signed below by the following persons on behalf of the Registrant and in the capacities and on the dates indicated.

Date: November 20, 2012	By:	/s/ Roger W. Ferguson, Jr.
		Roger W. Ferguson, Jr.
		President and Chief Executive Officer
		(principal executive officer)
Date: November 20, 2012	By:	/s/ Virginia M. Wilson
		Virginia M. Wilson
		Executive Vice President,
		Chief Financial Officer and
		Principal Accounting Officer
		(principal financial officer)

EXHIBIT LIST

Item 3. Exhibits.

3(a) Section 302 certification of the principal executive officer
3(b) Section 302 certification of the principal financial officer